Iraq Oil
Transcript of Iraq Oil
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Why did the U.S. invade Iraq in 2003?
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U.S. intelligence produced reports showing Saddam Hussein was in
possession of nuclear weapons.
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DHL, Aid and Iraqi OilImplications of the Draft Hydrocarbon Legislation and Foreign Aid
on the Iraqi Oil Infrastructure and Trade Mechanisms.
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Background InformationOil in Iraq
Number one export Third largest known reserves in the world
Oil Infrastructure Basics Current Law Allocations
Security Environment Invasion Current
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Crude Oil Statistics
May
.03
Jan.
04
Octob
erJu
ly
April
Jan.
07
Octob
erJu
ly
April
0
0.5
1
1.5
2
2.5
3
Crude oil _x000d_production _x000d_ Crude Oil ExportPre-War Peak
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Crude Oil Statistics (Cont.)
24%
34%
1%
41%
Iraq Crude Oil Export 2008
EuropeAsiaAfricaWestern Hemisphere
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Draft Hydrocarbon Legislation
Undivided ownership of Oil wealth
Creation of Oil bodies FOGC INOC MOI
Contract Regulation
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Trade Facilitation through Monetary Policy
Aid for Trade
Pre-Invasion Oil For Food Program
IRRF Creation of CPA Security Funds
IMF Funds Post-Conflict Assistance SBA’s
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Impact on Oil PolicyEconomic dependence on Oil
Created more secure environment Future investment
Foreign influence in Policy making mechanisms PSAs Regional Contracts
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Problems With DHL and Current Programs
DHL problems with Federal vs. Regional control Contracting Fund distribution
PSAs
Internal Issues Refining Corruption Oil Smuggling
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AnalysisNeed for a DHL
Ratification Clearly defined allocation Contract Distribution Mechanism
Other additions Security Anti-Corruption mechanism
Aid Overall beneficial Can eventually impinge upon Iraq
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Questions?