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Politics : Foreign Affairs Discussion Group -- Ignore unavailable to you. Want to Upgrade?

To: Noel de Leon who wrote (111805)	8/17/2003 6:49:44 PM
From: quehubo	Read Replies (1) \| Respond to of 281500

What do you think the purpose of this was? Do you think the oil revenues are not being invested in the Iraqi infrastructure 100 times over by the US taxpayer?

To: Noel de Leon who wrote (111805)	8/17/2003 8:37:13 PM
From: Brumar89	Respond to of 281500

You ought to read UNSC resolution 1472. Bush's executive order seems to be implementing what the resolution calls for. The way I read the order it gives protection to Iraq from having the proceeds of oil sales seized by foreign creditors - France, Germany, Russia, various Arab nations. Here's part of UN resolution 1472: 20. Decides that all export sales of petroleum, petroleum products, and natural gas from Iraq following the date of the adoption of this resolution shall be made consistent with prevailing international market best practices, to be audited by independent public accountants reporting to the International Advisory and Monitoring Board referred to in paragraph 12 above in order to ensure transparency, and decides further that, except as provided in paragraph 21 below, all proceeds from such sales shall be deposited into the Development Fund for Iraq, until such time as an internationally recognised, representative government of Iraq is properly constituted; news.bbc.co.uk