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THE COMPLETE ARTICLE
THE NEW YORK TIMES

President Bush’s actions have been what you’d expect from a man whose plan is to keep up appearances for the next 16 months.

To understand what’s really happening in Iraq, follow the oil money, which already knows that the surge has failed.

Back in January, announcing his plan to send more troops to Iraq, President Bush declared that “America will hold the Iraqi government to the benchmarks it has announced.”

Near the top of his list was the promise that “to give every Iraqi citizen a stake in the country’s economy, Iraq will pass legislation to share oil revenues among all Iraqis.”

There was a reason he placed such importance on oil: oil is pretty much the only thing Iraq has going for it. Two-thirds of Iraq’s G.D.P. and almost all its government revenue come from the oil sector. Without an agreed system for sharing oil revenues, there is no Iraq, just a collection of armed gangs fighting for control of resources.

Well, the legislation Mr. Bush promised never materialized, and on Wednesday attempts to arrive at a compromise oil law collapsed.

What’s particularly revealing is the cause of the breakdown.

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