The Legal and Ethical Environment of Business Essay - 1

The Legal and respectable Environment of Business - Essay ExampleAs the inunct industry is directly related to the politicsal setting, it is expected that the takeover of the United States and the Coalition forces since 2003 as healthy as the new constitution in place will create new opportunities for foreign investors. The Iraqi Constitution of 2005 clearly stipulates the provision of disdain prospects for international oil companies (IOCs). The global policy forum recognizes this In the new setting, with Washington running the show, complaisant companies expect to gain most of the lucrative oil deals that will be worth hundreds of billions of dollars in pay in the coming decades. The new Iraqi constitution of 2005, greatly influenced by US advisors, contains language that guarantees a major role for foreign companies (Oil in Iraq 2006).DWI can take advantage of this by pursuing oil exploration in Iraq. This new venture is expected to raise its oil production as well as it r evenue and profit. DWI will be able to produce high-grade crude that is extraordinarily low-cost to manufacture. In Iraq, discovery and development cost is only $0.5/B and $0.5-$1.0/B, respectively.As the constitution of the new Iraq government is still under establishment, there are no concrete laws which govern the oil industry.