This week, the Kurdistan Regional Government (who reportedly don't fly the Iraqi flag over their parliament, despite gross generalizations about there being "Iraqis" in "Iraq") announced its first oil production sharing agreement (PSC).
The problem is that they picked a Bush crony right out of the gates, Ray "I'm for Bush" Hunt from Dallas-based Hunt Oil.
Also, we don't know the terms of the agreement. Please let it be that the Hunt Oil company was smart enough not to take a PSC that wasn't either below average profitability or even close to a "gift to Kurdistan", despite the risks.
Otherwise, one can only imagine the HUGE propaganda blow that Bush's friends will deliver as the regional press gear up about the USA finally getting the oil it invaded for ... Arg!
Now, it's true that Kurdistan has been moving forward rather independently on resource development issues for a long time and pressuring Baghdad. It's also true that, if Kurdistan starts up with some agreements, it might beneficially press other groups (especially those in the Western provinces) to consider dropping their weapons and going for the prospect of cash.
But, it will also put unwanted pressure on "the center". Frankly, the concerns from Baghdad are not ALL without merit, as best I recall.
Friday, September 14, 2007
A Possible Whopper in the List of "Could They Be That Stupid?"
