Endgame for Iraqi Oil?

Jack Miles on how how Bush's Oil Grab is BOGging down. This may be the light at the end of the tunnel unless Cheney makes Bush go to war with Iran. This article is a little technical, but the Devil is in details. It's a Tomgram, so take a lunch.

The oil game in Iraq may be almost up. On September 29th, like a landlord serving notice, the government of Iraq announced that the next annual renewal of the United Nations Security Council mandate for a multinational force in Iraq - the only legal basis for a continuation of the American occupation - will be the last. That was, it seems, the first shoe to fall. The second may be an announcement terminating the little-noticed, but crucial companion Security Council mandate governing the disposition of Iraq's oil revenues.

The game will be up because, as Antonia Juhasz pointed out last March in a New York Times op-ed, "Whose Oil Is It, Anyway?":

"Iraq's neighbors Iran, Kuwait and Saudi Arabia?. have outlawed foreign control over oil development. They all hire international oil companies as contractors to provide specific services as needed, for a limited duration, and without giving the foreign company any direct interest in the oil produced."

By contrast, the oil legislation now pending in the Iraqi parliament awards foreign oil companies coveted, long-term, 20-35 year contracts of just the sort that neighboring oil-producers have rejected for decades. It also places the Iraqi oil industry under the control of an appointed body that would include representatives of international oil companies as full voting members.

The news that the duly elected government of Iraq is exercising its limited sovereignty to set a date for termination of the American occupation radically undercuts all discussion in Congress or by American presidential candidates of how soon the U.S. occupation of Iraq may "safely" end. Yet if, by the same route, Iraq were to resume full and independent control over the world's third-largest proven oil reserves - 200 to 300 million barrels of light crude worth as much as $30 trillion at today's prices - a politically incorrect question might break rudely out of the Internet universe and into the mainstream media world, into, that is, the open: Has the Iraq war been an oil war from the outset?

Gee, ya think? There's lots more, and it's well worth reading, but I'll cut to the chase:

Time will tell, but not too much time. The eerie silence of the Bush administration about oil grows all the more deafening as the price of crude climbs toward $100 a barrel. Blood for oil may never have been a good deal, but so much blood for no oil at all may seem a far worse one.

It's all been a swindle on the grandest of scales, and the incompetent evil little pricks in this administration couldn't even do it right. They sure managed to kill a lot of people and spend a lot of our money, though, and that will continue for a long time even though folks are wising up.

The clock will not start to run down on BOG until 20 January '09 at the very earliest, of that we can be sure, and then only if Bush decides to step down like he's supposed to.