The Finch Formerly Known As Gold

14 June 2003

Resources? What resources?

Iraqi oil reserves, the Administration has always insisted, belong to the people of Iraq, and it appears that they meant it.

Ron Bailey approves:

I kind of like the idea of using a nation's natural abundance to help alleviate the pain and suffering of the general population.

If it works in Iraq, maybe we could try something similar here in the United States.

Never happen. Too many people in this country are persuaded that pain and suffering are actually good for you. (Not good for them, of course.)

Posted at 2:35 PM to Political Science Fiction

Thanks for the link!

Posted by: ronbailey at 3:27 PM on 14 June 2003

radical would be the idea that a nations resources should actually be for the benefit of the people, not the rich. And idea that people in SSouth America have been trying to implement for years, expect the US keeps stopping them.

Its called nationalizing the industry. and unless I'm wrong its what got Saddam in hot water in the first place.

Now we may just be talking about token payments to keep people from revolting on US occupation and ownership. That might be called hush money. or a bribe in some circles. But far be it from me to say the people of Iraq shouldnt have some share in the big black pool of sludge they live atop.

Posted by: bruce at 6:03 PM on 14 June 2003

Nationalization is probably not the answer it certainly hasn't done a whole lot for the average Saudi lately but it will be quite a while before we see anything resembling a Western-type economy in Iraq, so during the interim, we'll probably have some sort of joint venture between the US and any petrocompanies who can be talked into the deal. I mean, this country is still grappling with "democracy, whiskey, sexy"; "mineral rights" is kind of low on the agenda for now.

Posted by: CGHill at 6:18 PM on 14 June 2003