A new oil law being proposed will strip Iraq of its oil, giving foreign companies control of Iraq's oil, which is its primary resource and source of wealth. This was in a statement signed by 419 of Iraq's oil experts, economists and intellectuals.
Iraq's Parliament will discuss the law next month. The 419 experts and intellectuals demand major modifications to the proposed law and referendum.
"We urge that a modified oil law be passed only by a referendum, simply because oil is the wealth of all Iraqis and it affects every Iraqi's livelihood and future," said Issam al-Chalabi, a signatory to the statement and former Iraqi oil minister.