Iraq oil legislation advances

Legislation to manage Iraq's oil industry won Cabinet approval Tuesday and could go before the parliament for ratification within days, but political wrangling raised the possibility of delays in passing the long-stalled measure.

The legislation is the less controversial of two measures covering Iraq's oil wealth. The second measure would set up the mechanism for ensuring that oil profits are distributed properly. It still requires passage by the Cabinet, which is expected to consider it this week, government spokesman Ali Dabbagh said.

The reform of Iraq's oil industry is considered the most important of several benchmarks that Washington says are crucial to proving that Iraqi politicians can overcome religious and sectarian divisions to pass laws beneficial to all Iraqis. With the parliament due to begin its monthlong recess at the end of this month and U.S. officials scheduled to present an Iraq progress report to Congress in September, time is running short for the measure to become law.

I think that if the U.S. Legislation manages the Iraq oil industry would intense tension between the U.S and Iraq. Though this would greatly help the U.S. economy I believe this would fuel many more terrorist attacks and will cause the war to last much longer