Oil majors stall on Iraq despite US pleas

[Nambe]

Gulf Daily News

US administrator Paul Bremer may be pushing hard to attract early foreign investment to Iraq, but the oil majors are unlikely to rush in where politicians and lawyers fear to tread. ---

Bremer says Iraq will consider privatisation and foreign oil investment in an attempt to jump-start the economy.

But as he well knows, doubts over whether international law would uphold such moves while Iraq remains under occupation could prove a powerful disincentive to potential investors. ---

"Iraq is not part of our current strategy and we would only do business there if we were dealing with a legitimate Iraqi government," said a spokesman for BP Plc in London. ---

[comradebillyboy]

1. we don't need no stinking legitimate government

multinational oil companies do know they can be hauled before the world court and even lose if they are not in compliance with international law. since so many people are watching they will be real cautious.

right now bremer would have trouble giving the oil away.

[Jacobin]

2. They know that when Iraq tosses us out, the new Ayatollah will

nationalize the fields anyway.

They ain't stupid. They know this Iraq thingy is going down very badly.