Iraqi Oil Protected By Bush Executive Order « Thread Started on Apr 8, 2004, 2:21am »--------------------------------------------------------------------------------Subject: Iraqi Oil Protected By Bush Executive Order This is the only article in this thread View: Original Format Newsgroups: alt.politics, alt.politics.bushDate: 2004-04-06 18:11:10 PSTNow we get to the true reasons we're in Iraq:Executive Order signed by Bush, protecting American interests in Iraqioil.
http://www.whitehouse.gov/news/releases ... lExecutive Order Protecting the Development Fund for Iraq and CertainOther Property in Which Iraq Has An InterestBy the authority vested in me as President by the Constitution and thelaws of the United States of America, including the InternationalEmergency Economic Powers Act, as amended (50 U.S.C. 1701 et seq.)(IEEPA), the National Emergencies Act (50 U.S.C. 1601 et seq.),section 5 of the United Nations Participation Act, as amended (22U.S.C. 287c) (UNPA), and section 301 of title 3, United States Code,I, GEORGE W. BUSH, President of the United States of America, findthat the threat of attachment or other judicial process against theDevelopment Fund for Iraq, Iraqi petroleum and petroleum products, andinterests therein, and proceeds, obligations, or any financialinstruments of any nature whatsoever arising from or related to thesale or marketing thereof, and interests therein, obstructs theorderly reconstruction of Iraq, the restoration and maintenance ofpeace and security in the country, and the development of political,administrative, and economic institutions in Iraq. This situationconstitutes an unusual and extraordinary threat to the nationalsecurity and foreign policy of the United States and I hereby declarea national emergency to deal with that threat.I hereby order:Section 1. Unless licensed or otherwise authorized pursuant to thisorder, any attachment, judgment, decree, lien, execution, garnishment,or other judicial process is prohibited, and shall be deemed null andvoid, with respect to the following:(a) the Development Fund for Iraq, and(b) all Iraqi petroleum and petroleum products, and interests therein,and proceeds, obligations, or any financial instruments of any naturewhatsoever arising from or related to the sale or marketing thereof,and interests therein, in which any foreign country or a nationalthereof has any interest, that are in the United States, thathereafter come within the United States, or that are or hereafter comewithin the possession or control of United States persons.Sec. 2. (a) As of the effective date of this order, Executive Order12722 of August 2, 1990, Executive Order 12724 of August 9, 1990, andExecutive Order 13290 of March 20, 2003, shall not apply to theproperty and interests in property described in section 1 of thisorder.(b) Nothing in this order is intended to affect the continuedeffectiveness of any rules, regulations, orders, licenses or otherforms of administrative action issued, taken, or continued in effectheretofore or hereafter under Executive Orders 12722, 12724, or 13290,or under the authority of IEEPA or the UNPA, except as hereafterterminated, modified, or suspended by the issuing Federal agency andexcept as provided in section 2(a) of this order.Sec. 3. For the purposes of this order:(a) The term "person" means an individual or entity;(b) The term "entity" means a partnership, association, trust, jointventure, corporation, group, subgroup, or other organization;(c) The term "United States person" means any United States citizen,permanent resident alien, entity organized under the laws of theUnited States or any juris-diction within the United States (includingforeign branches), or any person in the United States;(d) The term "Iraqi petroleum and petroleum products" means anypetroleum, petroleum products, or natural gas originating in Iraq,including any Iraqi-origin oil inventories, wherever located; and(e) The term "Development Fund for Iraq" means the fund established onor about May 22, 2003, on the books of the Central Bank of Iraq, bythe Administrator of the Coalition Provisional Authority responsiblefor the temporary governance of Iraq and all accounts held for thefund or for the Central Bank of Iraq in the name of the fund.Sec. 4. (a) The Secretary of the Treasury, in consultation with theSecretary of State and the Secretary of Defense, is hereby authorizedto take such actions, including the promulga-tion of rules andregulations, and to employ all powers granted to the President byIEEPA and the UNPA as may be necessary to carry out the purposes ofthis order. The Secretary of the Treasury may redelegate any of thesefunctions to other officers and agencies of the United StatesGovernment. All agencies of the United States Government are herebydirected to take all appropriate measures within their statutoryauthority to carry out the provisions of this order.(b) Nothing contained in this order shall relieve a person from anyrequirement to obtain a license or other authorization in compliancewith applicable laws and regulations.Sec. 5. This order is not intended to, and does not, create any right,benefit, or privilege, substantive or procedural, enforceable at lawor in equity by a party against the United States, its departments,agencies, entities, officers, employees, or agents, or any otherperson.Sec. 6. This order shall be transmitted to the Congress and publishedin the Federal Register.GEORGE W. BUSHTHE WHITE HOUSE