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Politics : Foreign Affairs Discussion Group

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To: geode00 who wrote (192392)	7/20/2006 9:52:05 PM
From: Hawkmoon	Read Replies (2) of 281500

I think that is just ridiculous.. You can't just overthrow a government and force them to privatise their oil industry. You can recommend and encourage the new government to do so, but it has to be done in a democratic manner by a government that is democratically elected. There is no doubt that Iraq needs to privatise their oil industry in order to encourage the oil industry to invest the billions that will be required to renovate and modernize it. But it has to be done in a manner where it is not considered exploitive, and a considerable percentage of the oil wealth resides within the country itself to finance its reconstruction and economic growth. Besides, what private oil company would be crazy enough to invest in Iraq while there is the risk of having their investments blown up amidst the political instability there? And even if they privatize, a portion of those royalties should be set aside as a Iraqi "permanent fund" that encourages ALL IRAQIS to focus on their economic interests, as opposed to sectarian violence over the national resources. Hawk

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