Abstract
This research is aimed at identifying the role of petroleum revenues in the Kurdistan Region for better economic efficiency and sovereignty of the Kurdistan Region in the future. This study identifies some root causes of deficiency of revenue usage generally, as well as specific causes in the Kurdistan Region. Further, the study looks at the various factors that affect oil production in the Kurdistan Region and compares it to the Federal Government. This study seeks to show how the Kurdistan Region generates the oil reserves regionally, despite the difficulties it encounters with the Federal Government due to the constitutional ambiguity. The research analysis concludes the importance of energy efficiency for the Kurdistan Region both economically and politically.
Highlights
Introduction to the PetroRegion of Kurdistan (2007)According to Nawshirwan Mustafa, leader of the Change Party in the Kurdistan Region, “Iraqi government never wanted the Kurdistan Region to be independent economically, because that will give the chance for the Kurdistan Regional Government to become independent”. [43] The rise of oil production in recent years, typically in 2007, has dramatically transformed the economy of the Kurdistan Region
It might be counted as the aim for the Kurdistan Regional Government (KRG) to expand the power of the local government on the economic base, but on the other hand, generating the oil revenues was extremely needed for the KRG to re-build the region
The Kurdistan Region cannot be economically efficient, unless it finalizes the disputes with the Federal Government of Iraq, especially the constitutional disagreements on oil share and the territorial disputes, as well
Summary
This research is aimed at identifying the role of petroleum revenues in the Kurdistan Region for better economic efficiency and sovereignty of the Kurdistan Region in the future. Its presence in the economy grew with the oil control and regionalization of revenues It might be counted as the aim for the Kurdistan Regional Government (KRG) to expand the power of the local government on the economic base, but on the other hand, generating the oil revenues was extremely needed for the KRG to re-build the region. The KRG contribution to Iraqi agriculture production share is 50% of the nation’s wheat, 40% of its barley, 98% of its tobacco, 30% of its cotton and 50% of its fruit This means the KRG is doing better than the Federal Government, regardless of having lots of concerns in the agriculture sector, based on the data of the Ministry of Agriculture Profile, Directorate General of Planning and Follow-Up, Directorate of Statistics, Kurdistan Region, 2007. Kurdistan Development Corporation, Industry Sectors: Agriculture. [46]
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