Deal or no deal?

The Washington Post reports:
"The oil deal signed between Hunt Oil and the government in Iraq's Kurdish region earlier this month has raised eyebrows, in no small part because it appears to undercut President Bush's hope that Iraq could draft national legislation to share revenue from the country's vast oil reserves. Making the deal more curious is that it was crafted by one of the administration's staunchest supporters, Ray Hunt."

or is it a deal?

"Any oil deal has no standing as far as the government of Iraq is concerned," Iraq's oil minister, Hussain al-Shahristani, told reporters earlier this month. "All these contracts have to be approved by the federal authority before they are legal. This [contract] was not presented for approval. It has no standing."

Welcome to the New Iraq.

Oil Money...

"Oil money can lead a boy away from home. Oil money a million jobs in the oil trade. A million dollars to be made."- OIL MONEY by Bill Morrisey

Agents from the FBI and the Internal Revenue Service raided the Alaska home of Sen. Ted Stevens (R) yesterday as part of a broad federal investigation of political corruption in the state that has also swept up his son and one of his closest financial backers, officials said.-Washington Post

The it would be ironic to see Senator Stevens testify under oath after he allowed Oil Company executives to do so before the Senate without being under oath.
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It's payback time for the oil companies

Gas is over $3.00 a gallon here on Long Island and I got a hot tip from a guy who filled my tank on the New Jersey Turnpike two weeks ago said it will be $4.oo before you know it. But, the big news that in the lame duck Presidency of George W. Bush it's time to hand out the gifts before he heads off to his ranch. Today's Washington Post has the story of one tied with a pretty blue ribbon for the oil industry. Here is the money quote:
"The Interior Department will announce a proposal Monday to allow oil and gas drilling in federal waters near Virginia that are currently off-limits and permit new exploration in Alaska's Bristol Bay and the Gulf of Mexico, "

Nuff said!