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April 26, 2003

Hints That (US-Occupied) Iraq May Quit Opec

 'Iraq "may have to quit Opec"' (4/27/03 - The Observer [UK])

Fadhil Chalabi, cousin of the Pentagon's favorite puppet to lead post-invasion Iraq, told the London Observer the country may leave OPEC so that it can bypass limits on oil production and miximize profits. Chalabi said that in order to pay for reconstruction, Iraq would have to produce more than twice its pre-sanctions OPEC quota and almost triple the present output of about 7 million barrels a day.

A former Iraqi oil minister, Fadhil Chalabi served on the US State Department's Future of Iraq Oil and Energy Working Group. He was "invited" to be the interim head of Iraq's oil sector, but declined for reasons not explained in the Observer article. The paper says that Chalabi "is now a key adviser to the American government."

So what a surprise: he's also banging the privatization drum. "Iraq is going to need a lot of money in the next five years, up to $300bn," he told the Observer. "Privatisation or partial privatisation is the way to secure this investment."

Of course that's just crypto-speak for "hand over the Iraqi oil industry to US corporations."

For the record, Subliminal News has long maintained that disrupting OPEC is one of the key long-term goals the Bush Admin is exploiting in its invasion and occupation of Iraq.

[Read the source...]

Posted Sat 04/26/2003
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