Iraqi Oil Workers to Strike Over Privatization Law

The proposed hydrocarbon law, if adopted by the Iraqi parliament as proposed, would provide a backdoor opportunity for multinational oil corporations to secure long-term (as long as 30 years) control over more than 2/3 of Iraq's undeveloped oil reserves. The Bush administration and its corporate and political allies are putting tremendous pressure on the Iraqis to adopt this law. It has engaged the services of the IMF to pressure Iraq by making adoption of the law a condition of debt relief and further financing from the international community.