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You all should read everything again. More than less this is that the Iraqis have to get permission from the US on their own laws they want to pass.
The Oil draft law was seen by both the Bush administration and the International Monetary Fund before it was given to Iraq's parliament.
So it's about their own democracy and not about the oil is it?
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What the hell are you talking about? Iraq is a sovereign nation with an independent, democratically elected government. We can't and don't tell them how to legislate. Perhaps if we could, it wouldn't be such a mess over there right now.
And they're contracting with China and other developing countries because their demand is on track to surpass ours within the next decade. Iraq is nailing an emerging market--that's where the money is.