From the Financial Times.

I really need to see more details on this, but check this out:

The laws abolished almost all curbs on foreign direct investment except in natural resources and allowed foreign domination of the banking sector.

...The laws were signed on Saturday by Paul Bremer, head of the Coalition Provisional Authority. They limit corporate and income tax to a top rate of 15 per cent from January and impose a 5 per cent tax on most imports, abolishing other tariffs.

Again, I need to see more details, especially on the remaining curbs on natural resource investments. At this point, such curbs are a good idea. It is critical to our efforts that the Iraqi people directly benefit from Iraq's oil wealth, and one does not want to see outside forces sucking it all up.

If I was in charge, I would set up something like they have in Alaska, where Iraqis would actually get generous direct payments from the oil exploitation. There's nothing like a check in the mailbox to give you the idea that you have a stake in something. And there's nothing like the thought of that check being reduced or squelched that would make Iraqis rise up against those who would sabotage the oil infrastructure.