But majorly, there are three major points that I think we
should talk about. Financially, it legalizes very unfair types of contracts
that will put Iraq
in very long-term contracts that can go up to thirty-five years and cause the
loss of hundreds of billions of dollars from Iraqis for no cause.

“The second point is concerning Iraq's sovereignty. Iraq will not be capable of controlling the
levels -- the limits of production, which means that Iraq c...

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But majorly, there are three major points that I think we
should talk about. Financially, it legalizes very unfair types of contracts
that will put Iraq
in very long-term contracts that can go up to thirty-five years and cause the
loss of hundreds of billions of dollars from Iraqis for no cause.

“The second point is concerning Iraq's sovereignty. Iraq will not be capable of controlling the
levels -- the limits of production, which means that Iraq cannot be a part of OPEC
anymore. And Iraq will have
this very complicated institution called the Federal Oil and Gas Council, that
will have representatives from the foreign oil companies on the board of it, so
representatives from, let’s say, ExxonMobil and Shell and British Petroleum
will be on the federal board of Iraq
approving their own contracts.

“The Third point is the point about keeping Iraq’s unity.
The law is seen by many Iraqi analysts as a separation for Iraq fund. The
law will authorize all of the regional and small provinces’ authorities. It
will give them the final say to deal with the oil, instead of giving this final
say to central federal government, so it will open the doors for splitting Iraq into three
regions or even maybe three states in the very near future.”