Now that Amnesty law is passed and aggressively being implemented, we will now want to move our attention to the next big obstacle to our long awaited RV, that of the oil and gas law (HCL). This law has been kicking the can down the road since 2008. If you research you will see just why this is the case. However this can not go on much longer since the survival of Iraq depends on nailing down just how the drilling, transporting, selling and revenue sharing will be handled. With ISIS stealing oil and all the recent mismanagement with the contractor payments they need an HCL more than ever.
If you truly take the time to study the 2008 draft oil and gas law you will see just why it has been delayed for so long and why it now has to go forward. Iraq has never had a better opportunity to move on this law and do it now. There is still some little hesitation since many in the finance ministry and parliament do not want to now distribute revenues for the oil revenue sharing due to the cost of fighting ISIS in the north. This is one other obstacle and now they also are talking about supporting a reduction in oil generation to raise the prices. This will of course have to be support by all of the GCC and not just Iraq alone. But the important part for us is this could cause yet more delays in the HCL law as they try to figure out what they are going to do. Will it impact the passing of HCL? I do not think so. But this is my personal opinion.