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[casi] Corporate involvement in Iraq

Dear list members,

I have just returned from a conference on Iraq's oil sector.  One of the
things that surprised me about the conference were the consistent
messages that surfaced from a number of the speakers.  Chief among these
was that big firms would not try to move into Iraq until there was a
democratic (or legitimate) government.  There are important differences
Democratic and 'legitimate', but it seemed widely appreciated that the
legal risks associated with signing contracts with Occupying Powers, not
legitimate governments, were prohibitive.

One representative of a large firm told me that they've been in most of
the countries that they work in for 50 years: they're not going to dash
into something that they see as a long term investment.

Oil companies are very capital intensive and may, therefore, be more
inclined to move more slowly than are firms that would place less
capital at risk.


Colin Rowat

work | Room 406, Department of Economics | The University of Birmingham
| Birmingham, B15 2TT, UK | | ( 44/0) 121 414
3754 | (+44/0) 121 414 7377 (fax) |

personal | (+44/0) 7768 056 984 (mobile) | (+44/0) 7092 378 517 (fax) |
(707) 221 3672 (US fax) |

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