Thread: Iraq/Dinar News. 09/05 to 01/14/07

I agree to a certain extent Neno because I feel there are big companies already in Iraq setting up equipment for when the HCL goes through. I mean the US government had the Iraqi constitution written back in 2003 and made sure the thing was signed as soon as the new government was established. I'm sure the constitution looks out for all involved including the big oil companies, just like the HCL does. JMO

Originally Posted by Inscrutable

Thanks for your time Mike, one more question if I may.

First payments? Are you referring to the 30%? If so isn't that tied into the HCL?

Good question,

Yes, but we don't yet know when first distribution will be made, and judging from the promised 10K dinar, three months later, who knows when it will happen, that is why I don't think the revalue is a closely tied to HCL then some others think. This is the $64K question, when will money be distributed to citizens, never mind announced. (g)

Happy Holiday Season to all, Mike

Originally Posted by neno

Of Course. But if they need this New Constitution to be in Place for the HCL to Have any Ground to where the Big Boys feel comfortable, then we all know how long it takes to get something done in Iraq. And Now since the Old Constitution doesn't hold ground in a Court with debate, I would say it is going to be along winter and Possibly Spring too. Cause with out the Big Boys this will Die.

And it is not going to Die, cause the Big Boys will get there Constitution.

Legal Contradictions
But currently, Iraq's constitution is almost completely at odds with the draft hydrocarbon law on one fundamental issue: who has the authority to award exploration and development contracts.

Couldn't they just do this with an amendment to the constitution instead of re-writing the whole darn thing? It is saying in this article that there is basically the "authority issue" that is at odds with the constitution.IMO could be solved with an amendment.

Originally Posted by cigarman

I agree to a certain extent Neno because I feel there are big companies already in Iraq setting up equipment for when the HCL goes through. I mean the US government had the Iraqi constitution written back in 2003 and made sure the thing was signed as soon as the new government was established. I'm sure the constitution looks out for all involved including the big oil companies, just like the HCL does. JMO

Originally Posted by Mike5200

Legal Contradictions
But currently, Iraq's constitution is almost completely at odds with the draft hydrocarbon law on one fundamental issue: who has the authority to award exploration and development contracts.

Couldn't they just do this with an amendment to the constitution instead of re-writing the whole darn thing? It is saying in this article that there is basically the "authority issue" that is at odds with the constitution.IMO could be solved with an amendment.

Again Guys I am not a expert here. But by what that Article is saying is that no matter who is there and under who evers contract they signed with, it will be voided by the Constituion that is of Old. If Bush has a New one then why does the Article have the President of Iraq suggesting to Bush to Move on a New Constituion. At the end it even has Rice saying that the Constituion may need revised in time.

There was another part of the Article that mentions about the Authority Rule. But that is if all the Groups agree with it to reduce the violence. I thing we are as our group or still behind the door on their moves. They might very well allready have things moving in the right direction and this Article to the Public is just a Push to get it done so that the BIG BOYS can put the BIG MONEY to work.

Brains, I almost Guarantee is being used here, by putting these articles to print. I believe we have to read between the lines on most of them.That is why I said if that Article has any credit to it.

Originally Posted by Mike5200

Legal Contradictions
But currently, Iraq's constitution is almost completely at odds with the draft hydrocarbon law on one fundamental issue: who has the authority to award exploration and development contracts.

Couldn't they just do this with an amendment to the constitution instead of re-writing the whole darn thing? It is saying in this article that there is basically the "authority issue" that is at odds with the constitution.IMO could be solved with an amendment.

No doubt. Ammendment to Art 110, 111, and 117

Oil is defined as the property of all Iraqi people (Art. 109) and is to be managed by the federal government in conjunction with regional and provincial governments, Article 110 attempts to define how oil revenue is to be distributed among the country's regions and provinces; however, beyond stating that it be done "fairly", the constitution does not go into specifics. It also could be read as referring solely to "current" oil fields, not ones opened up in the future.

Art. 117 paragraph 3 is of relevance to the contentious issue of oil revenues, stating that "Regions and provinces shall be allocated an equitable share of the national revenues sufficient to discharge their responsibilities and duties, but having regard to their resources, needs and the percentage of their population."


From the IRAQI CONSTITUTION

Article (109): Oil and gas is the property of all the Iraqi people in all the regions and provinces.

Article (110): 1st - The federal government will administer oil and gas extracted from current fields in cooperation with the governments of the producing regions and provinces on condition that the revenues will be distributed fairly in a manner compatible with the demographical distribution all over the country. A quota should be defined for a specified time for affected regions that were deprived in an unfair way by the former regime or later on, in a way to ensure balanced development in different parts of the country. This should be regulated by law. 2nd - The federal government and the governments of the producing regions and provinces together will draw up the necessary strategic policies to develop oil and gas wealth to bring the greatest benefit for the Iraqi people, relying on the most modern techniques of market principles and encouraging investment


Article (117): The legislative authority of a region consists of one council called the National Council for the Region

http://news.bbc.co.uk/1/shared/bsp/h...05_constit.pdf

Originally Posted by michael16

MSNBC - Video Front Page


This is talking about the booming Iraqi economy on msnbc.

I saw some contradiction on CNBC Kudlow and Company show today.
The speaker mentioned progress of dinar and Growing Iraq economy but was not very positive on the dinar to revalue big like 1:1 because of security and banking system issues or lack of.

I guess there are still various opinions.

Hoping for a Great 2007 with the dinar!

After seeing the Costituiton that Inscrutable throwed up here. I would say Article 110 is the hold-up. This must be where the problem lies.

It clearly states that admendments may be needed and then it clearly states that "revenues will be distributed fairly in a manner compatible with the demographical distribution all over the country".

So I will say that is the Problem. A dog fight still of power to argue who says who gets what and how much. This must be where they need the Constitution to be more Clearly for the BIG BOYS to Bring their BIG MONEY.

Originally Posted by livefree

I saw some contradiction on CNBC Kudlow and Company show today.
The speaker mentioned progress of dinar and Growing Iraq economy but was not very positive on the dinar to revalue big like 1:1 because of security and banking system issues or lack of.

I guess there are still various opinions.

Hoping for a Great 2007 with the dinar!

The show is online here in segments, can you point out which segment it was?

Thanks.

MSNBC - CNBC Video Gallery Front Page

Just scroll down into the 5PM-6PM slot and you will see the Kudlow segments.

Originally Posted by livefree

I saw some contradiction on CNBC Kudlow and Company show today.
The speaker mentioned progress of dinar and Growing Iraq economy but was not very positive on the dinar to revalue big like 1:1 because of security and banking system issues or lack of.

I guess there are still various opinions.

Hoping for a Great 2007 with the dinar!

Saw this too. Finally we have News Stations providing more good along with the Bad. Hummmm, I wonder why? But it was a Good Segmen. Also got a version in my siggy below.

Originally Posted by neno

After seeing the Costituiton that Inscrutable throwed up here. I would say Article 110 is the hold-up. This must be where the problem lies.

It clearly states that admendments may be needed and then it clearly states that "revenues will be distributed fairly in a manner compatible with the demographical distribution all over the country".

So I will say that is the Problem. A dog fight still of power to argue who says who gets what and how much. This must be where they need the Constitution to be more Clearly for the BIG BOYS to Bring their BIG MONEY.

It is one of the problems they are facing as I posted a week ago. The Kurds are willing to offer a percentage of the fields which are currently open but not of the fields that remain unexplored, just as it's worded in the constitution .