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By Ahmed Rasheed
BAGHDAD, Oct 26 (Reuters) - Iraq's long-awaited hydrocarbons law failed to win the backing of parliament's Oil and Gas Committee on Sunday, with Kurdish members insisting the bill has not been properly approved by the cabinet, lawmakers said.
The hydrocarbons law would create a framework for investing in the OPEC member state, which has the world's third largest petroleum reserves, but it has been held up for years by quarrels over how to distribute the wealth.
The government submitted a new draft version of the bill to parliament's Oil and Gas Committee earlier this month.
Committee head Ali Hussain Balou said members had decided after a meeting with parliamentary speaker Mahmoud al-Mashhadani on Sunday that they could not endorse it because it had not been endorsed by the whole cabinet.
Regrettably, the cabinet has sent us a version that was altered by the Oil Ministry, which is different from the draft approved (by the cabinet) in Feb. 2007. We cannot accept it, Balou, a Kurd, told Reuters in a telephone interview

This is laudable but the document gives no clue as to where these jobs will come from and what the investment cost will be. It has all the hallmarks of a struggle document, a wish list of the disenfranchised, rather than a working plan of an elected government.
Manuel's budget, of course, is exactly the opposite, being detailed down to the tiniest footnote on how the revenues and expenses of the country will be managed in the next three years.
Next year's national election is only six months away. The country is in election mode. What possible gain could Luthuli House get from trying to undermine Manuel a few days before him giving the updated budget numbers to Parliament?
If the ruling party did not believe Manuel represented it, it could have recalled him with former president Thabo Mbeki. Or it could have negotiated terms with him so that he had to implement post-Polokwane policies as determined by Luthuli House.
But the strategic leadership of the new ANC led by Julius Malema's proxy, Jacob Zuma, is now so poor that it could think no further than exacting political revenge on Mbeki. It recalled him, suddenly realising that it would have to appoint a whole new Cabinet and opting largely to keep the show as close to the Mbeki model as possible.

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