U.S. official urges hydrocarbon law passage

BAGHDAD / IraqiNews.com: Deputy U.S. Commerce Secretary John J. Sullivan on Saturday expressed his country’s yearning for an Iraqi oil and gas law that he said will expand U.S. investments in post-war Iraq. The remark was made during a speech he gave at a U.S.-Iraqi economic conference that opened earlier today and was attended by IraqiNews.com. Sullivan expressed his hope that the passage of the controversial law will provide security and stability needed for investment activities in the country. Meanwhile, the U.S. ambassador in Iraq, Ryan Crocker, said that Iraq cannot establish a strong economy on its own, urging the entire world to help the war-torn country. Earlier this morning, a U.S.-Iraqi economic conference opened in the capital Baghdad with the participation of high-ranking officials from both sides. The conference, held at al-Rasheed Hotel in Baghdad’s fortified Green Zone, was attended by the deputy prime minister, Rafie al-Issawi, and the minister of finance, Baqir Jabr al-Zubeidi. On Friday, the U.S. embassy in Baghdad announced that Deputy U.S. Treasury Secretary Robert M. Kimmitt, Deputy U.S. Commerce Secretary John J. Sullivan, Ambassador Ryan Crocker, and other U.S. officials would attend the conference. The governor of the Central Bank of Iraq (CBI), Sinan al-Shibibi, and the head of the National Authority for Investment, Ahmed Ridha, were among the participants. SS (S) 1