(Thank you George for emailing this to Dinar Recaps.)
Now that Amnesty law is passed and aggressively being implemented, we will now want to move our attention to the next big obstacle to our long awaited RV, that of the oil and gas law (HCL). This law has been kicking the can down the road since 2008. If you research you will see just why this is the case. However this can not go on much longer since the survival of Iraq depends on nailing down just how the drilling, transporting, selling and revenue sharing will be handled. With ISIS stealing oil and all the recent mismanagement with the contractor payments they need an HCL more than ever.
If you truly take the time to study the 2008 draft oil and gas law you will see just why it has been delayed for so long and why it now has to go forward. Iraq has never had a better opportunity to move on this law and do it now. There is still some little hesitation since many in the finance ministry and parliament do not want to now distribute revenues for the oil revenue sharing due to the cost of fighting ISIS in the north. This is one other obstacle and now they also are talking about supporting a reduction in oil generation to raise the prices. This will of course have to be support by all of the GCC and not just Iraq alone. But the important part for us is this could cause yet more delays in the HCL law as they try to figure out what they are going to do. Will it impact the passing of HCL? I do not think so. But this is my personal opinion.
So in today’s news letter let’s read up a bit on the HCL and educate ourselves so we don’t get tricked by these charlatans once again selling us their every day / any day RV stuff. If we stay educated we are in control of our own news. There are a ton of very good articles on the web these days. Just make sure they are not opinion from some intel guru and factual news.
No need for Rumors, No Hype, just the FACTS.
The Iraq Hydrocarbon Law: How and When?
U.S. Congratulates Iraq on Hydrocarbon AgreementPress Statement
So it looked like in 2014 that the draft HCL was finalized but only a daft law in the Kurdistan region. The federal government in Baghdad must also buy into it since all revenues are to go through Baghdad. See above article. But remember all laws must then go through parliament also and be “passed’ to become law. Backroom deals just don’t do it. Sorry all you so called intel “gurus” out there saying this law is done. The show is not over until the fat lady sings….lol…lol…
So just what is the latest news on HCL? See below article.
Documents .. Supreme Judicial issue instructions implementation of the General Amnesty Law
No delays in the implementation of Amnesty law passed last week.
HCL and Amnesty play a MAJOR role in the reconciliation process !
The sale of foreign currency window "and a way to ensure stability,”
The national coalition led by Iyad Allawi confirmed on Monday (22 August 2016), the dollar exchange rate in the domestic market management is a "window of thieves and corrupt", and pointed out that the currency anywhere auction "for wasting money and leaking Iraqi balance across the mafias money laundering" , and he expressed concern regarding the determination to continue the auction currency policy despite the warnings and recommendations of experts, called for the inclusion of the Central Bank reforms approved by the House of Representatives.
Folks Allawi is calling for the implementation of the currency reforms including the project to delete the zeros and to get out of a “closed economy” and thus stop the need to convert dinars to USD to pay debts. This is a recent article and so we can see the pressure continues for currency reform.