Quote Originally Posted by Psycho4Bud
That is a crock.....sorry. Right now I think that 17 out of the 80 sites are pumping; the rest were in such bad condition that they had to be capped off. IF this bill passes the Iraqi government will give the oil companies 75% of profit until the investment capitol is made up and then the percentage of gross profit is 80% for Iraq.

I always love how it's portrayed as if we're just pumping out the oil with nothing left for the country in question. Hell, when Saddam was in power it was French and Russian rigs.........none of which were maintained worth a shit.

Have a good one!:s4:
You're talking about 20% of the oil reserves that have been tapped. What the new legislation that Fish talked about is the 80% that is still untapped, and will be distributed to the USA and the Brits, Viola, Billions of bucks for big oil. It's sure nice to have an oilman for President eh. If I could afford it, I'd buy some oil stock, If FRPT ever drops to 15.00 again, Im going to buy a bundle, you know those contracts are going to go big time. the military is already screaming for them.