> On Tue, June 30, 2009 7:47 pm, Eubulides wrote:
>
>
>> Pre-empting a return to resource nationalism via the use of auction
>> theory, even as this round of the auction did not turn out so well for some
>> players, is a major step in the process of current and future Iraqi
>> administrations willing to internalize imported economic theories as part
>> of the process of building new bureaucracies, development strategies etc.
>>
>
> Why auction when you can own?
>
> http://www.nioc.ir/index.html
>
> -- DRR
>
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Clearly they have a capital formation problem for buying all the know-how and buildable infrastructure. A lot of changes have happened to oil extraction, processing yada yada in the last 20 years. It would be extraordinarily expensive for them to buy off-the-shelf as it were.