Hogan's Alley

Wednesday, July 04, 2007

Small Ray Of Hope In Iraq

The Iraqi Cabinet yesterday finalized and sent to the Parliament the long debated law that defines how Iraq's oil resources will be exploited and shared. The proposed law codifies the shared ownership of the oil by all the people of Iraq. It also establishes a board that will oversee all contracts the production of oil and oversee oil and gas policy for the nation. To the extent that the final law satisfies the Sunni groups, whose geographic territories do not include significant petroleum resources, they may be more amenable to engaging in the political process.

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