Criticism of The New Law
Some critics have claimed that the new Iraqi Oil law was not needed since Iraq has the cheapest oil to extract. Also Iraq's oil refineries did not maintain any heavy damages during the Iraq war so the country is not in need for any serious development at the time. Other analysts have claimed that the no-bid contracts to U.S oil companies constitutes as exploitation since many non U.S companies would give the same service for shorter contracts and lower percentage of revenue.
Read more about this topic: Iraq Oil Law (2007)
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