Iraq Oil

The politicians in Iraq are trying to agree on a constitution. The stumbling block seems to be the ownership of oil revenue. Some want the oil to be controlled by the regions and others want it controlled by the central government.

The really important question is not being addressed at all. Why should the oil be owned by the state?

Politicians always take a short term view, so they are likely to waste the oil resource.

When the Israelites entered the promised land, Moses divided the land between tribes and families. This gave them a fresh start with a productive asset.

A parallel approach for a new start in Iraq might be to give each Iraqi a share in the companies that control the oil. This would give the Iraqi people a reliable source of income, collateral for starting a business and a real stake in the destiny of their new nation.