Cerebral Black Hole » Lead Story » Top 10 Iraq War Profiteers.

News Type: Event — Seeded on Mon Mar 17, 2008 8:07 PM EDT

Article Source: cerebralblackhole.com

business, iraq, corporate-greed, iraqi-war, war-profiteers

The history of American war profiteering is rife with egregious examples of incompetence, fraud, tax evasion, embezzlement, bribery and misconduct. As war historian Stuart Brandes has suggested, each new war is infected with new forms of war profiteering. Iraq is no exception. From criminal mismanagement of Iraq's oil revenues to armed private security contractors operating with virtual impunity, this war has created opportunities for an appalling amount of corruption. What follows is a list of some of the worst Iraq war profiteers who have bilked American taxpayers and undermined the military's mission.

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A key provision in the new law is a commitment to using production sharing agreements (PSAs), which will lock the government into a long-term commitment (up to 50 years) to sharing oil revenues, and restrict its right to introduce any new laws that might affect the companies' profitability. Greg Muttitt of Platform says the PSAs are designed to favor private companies at the expense of exporting governments, which is why none of the top oil producing countries in the Middle East use them

I certainly wouldn't advise them to do this to themselves, I doubt they will be pressured into it either. If they can hold off till after the election, ours that is, maybe they can cut a better deal. I'm sure they're thinking the same thing.

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#1 - Mon Mar 17, 2008 8:10 PM EDT

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Cerebral Black Hole » Lead Story » Top 10 Iraq War Profiteers.

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