> Experts close to the industry say the country needs $20 billion to
> $60 billion in capital investment if it is to recover its former
> glory. That deficit alone practically insures future privatization--
> or at least liberalization of participation by foreign firms and oil
> majors.
This is deeply deeply wrong - it is not "the deficit alone" that "practically insures" anything. With Iraq sitting on top of a lake of scarce oil, once there is a viable government and peace there will be many many sources of capital investment on terms not less favorable than those given to Iran, Libya, Venezuela, Indonesia or other ***independent*** countries. China alone would pay the necessary on terms that do not involve privatization or production sharing agreements - a kind of colonial subjugation that does not exist in any other significant producing nation. Christian has swallowed something vile at a gulp.
john mage