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Keyword: Hernando De Soto

What Price Oil? Email Print

Time Magazine in its July 16, 2007 issue had an article by Madeleine Albright and Hernando De Soto entitled:  "Giving the Poor Their Rights".  This article revealed the dire poverty in Kenya.

The formula for peace was spelled out in oversize bold print:  "When governments grant people means to control their assets, they empower them to invest and plan for their future."

If this is the wise policy for Kenya why isn't the U.S. government applying it to Iraq and its oil asset?  If the U.S. would let Iraq control its oil, which is claimed to be one-third of that contained in the entire world, perhaps Iraqis would be motivated to end this Iraq War disaster.

The U.S. has a plan on Iraqi oil distribution.  With 80 oil wells in Iraq, the distribution deal the U.S. is desperately trying to get Iraqis to sign is to provide "foreign investors" with long-term leases on 63 Iraqi oil wells.  That will leave Iraq in control of only 17 of their own nation's oil wells.

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