a good discussion of the new iraqi oil law is here. more critical analysis of the law is here. and the full translated text of the statute can be found here.
actually, i think the administration, and the oil companies behind it that were pushing for this, have overreached. by taking all control over oil production out of the central government's hands and giving broad long-term concessions to foreign oil companies, the law will increase the chance that some future iraqi leader will scrap it and re-nationalize the iraqi oil industry.
