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Iraq At Crossroads: Transforming The 'Resource Curse' To A 'Resource Blessing' - The Case For Gradual Privatization Of The Iraqi Oil Industry, Christina P. Frentzou

Christina P Frentzou

Talking about reconstruction and state-building of a country like Iraq holding the world’s largest reserves of conventional petroleum after Saudi Arabia is hard to envisage without focusing on the largest source of income and power: its oil industry. The controversial Draft Oil & Gas Law currently under review is an example of the inclination of the elected government to focus on short-term goals of fast profit and to drive Iraq into the world of full-frontal privatization and of open-market economy while scrupulously neglecting the security situation and the weak and vague legislative frameworks in place - both factors that reduce …