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Iraq’s oil conundrum

Many people think it was a war for oil, but US and British companies may end up getting none of it

By Daniel Litvin   August 2007

The Anglo-American invasion of Iraq has already provided rich lessons in unintended consequences, or “blowback,” from foreign involvement in the country’s affairs. The Iraqi oil industry may be about to provide yet another.

The US has recently been exerting intense pressure on the Iraqi government to pass oil legislation swiftly which, it hopes, will set a framework for the revival of the industry, including opening it up to foreign investment and dividing oil revenues fairly between Iraq’s different ethnic and religious groups. Passage of this law has been defined by Washington as a key benchmark of progress in Iraq. The…

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