Regulatory Infrastructures for the Development of Petroleum Policy Goals - Dissertation Example

Download file to see previous pages Currently, this thesis argues that Iraq’s legal system must be seen as a product of Iraq’s distinctive history and local circumstances. It analyses the current nature of Iraq’s regulatory infrastructure and notes that Iraq’s law builders have relied heavily upon the United States model which may not suit Iraq in its current state of rebuilding the country.

Therefore, this thesis argues that Iraq’s approach to law reform and development in this area has not always produced a body of law that is appropriate to Iraq’s particular circumstances. Examples within the regulatory system are analyzed in this chapter with proposals for better solutions made at the end of the chapter. As there are a number of ways to conduct doctrinal research and analysis methods, this thesis follows the method of Australian higher degree research (HDR), utilizing the two-part method of first locating the sources of the law and then interpreting and analyzing the text accordingly, with a final presentation of solutions given at the end.

As an overview of regulatory infrastructures, it is important to understand why they are in place first: to establish institutions that would provide incentives for sustainable development in long-term economic and legal commitments from all sides; and accordingly, to encourage and protect investment opportunities from both internal and external existing and potential customers. Regulation refers to government-instituted controls on the business activity as defined by the Handbook for Evaluating Infrastructure Regulatory Systems. As such, regulatory infrastructures are perceived to benefit and protect both the clients and those providing the benefits of partnerships. Yet, in most cases, many believe that national regulatory systems have failed in Iraq to provide both commitments and protections as they were supposed to do. Since Iraq created its first Constitution in 2005, and while somewhat flawed in certain articles, it provides the first real sense of active regulatory infrastructure, geared to environmental and sustainable development for all its peoples.

Chapter 4 Analysis
This chapter reviews and analyses the regulatory infrastructure currently in place such as the Federal Iraqi Constitution and how any current regulatory systems also align with international regulations which concern oil and gas and sustainable development. The process for analysis shows that it is not enough to describe the laws, processes, and institutions but that there is a two-part system of analysis through questions involved: 1) to find out if the formal governance elements have actually been implemented (who’s in charge and how) and 2) then to determine the real actions and decisions of the regulators because they affect the performance of all regulated enterprises through all the parts affected.

This also aligns with working with international groups such as the Kyoto Protocol and the United Nations in its various commissions. As a final observation, the Federal Constitution (and any other laws and bills) must also be geared towards its own particular circumstances for the specific needs of its people rather than just taking any country’s constitution and calling it their own. ...Download file to see next pages Read More