A Resource for the Future - An Iraqi Dialogue on Oil
The disputes over oil are one of the most complex conflicts in Iraq. Mindful of this, the FBA in cooperation with its Iraqi partners, carried out a two-year national dialogue process spanning 2013 to 2015 focused on the future of Iraq’s oil. The conclusions from the project are gathered in the report “A Resource for the Future: An Iraqi Dialogue on Oil”.
The recommendations that emerged from the discussions conclude that:
- An oil fund should be constituted in order to support development in Iraq. There is a need to spend more on a robust development policy in the country, including education, health, infrastructure and the strengthening of domestic agriculture and industrial production.
- While being one of the largest exporters of oil in the world, at the same time Iraq lacks national oil and gas legislation to regulate this asset. Such a legislation would ensure that Iraq is a partner instead of merely a supplier of crude oil to world markets.
- In the absence of adequate regulation and a stable, long-term development policy, the close association of politics, business interests and the state create conditions for corruption. At present Iraq’s oil policy serves to benefit elite groups rather than the welfare of all Iraqis. This needs to change and combating corruption should be a priority.