The emergency war funding bills passed by the Democrats in the House and the Senate could pave the way to handing over Iraq’s oil reserves to big oil companies. Bush took us to war to gain control of the oil. Will he veto the bill anyway?

The supplemental appropriation package requires the Iraqi government to meet a series of “benchmarks” President Bush established in his speech to the nation on January 10 (in which he made his case for the “surge”). Most of Mr. Bush’s benchmarks are designed to blame the victim, forcing the Iraqis to solve the problems George Bush himself created.

One of the President’s benchmarks, however, stands apart. This is how the President described it: “To give every Iraqi citizen a stake in the country’s economy, Iraq will pass legislation to share oil revenues among all Iraqis.” A seemingly decent, even noble concession. That’s all Mr. Bush said about that benchmark, but his brevity was gravely misleading, and it had to be intentional.

The Iraqi Parliament has before it today, in fact, a bill called the hydrocarbon law, and it does call for revenue sharing among Sunnis, Shiites, and Kurds. For President Bush, this is a must-have law, and it is the only “benchmark” that truly matters to his Administration.

Yes, revenue sharing is there-essentially in fine print, essentially trivial. The bill is long and complex, it has been years in the making, and its primary purpose is transformational in scope: a radical and wholesale reconstruction-virtual privatization-of the currently nationalized Iraqi oil industry.

If passed, the law will make available to Exxon/Mobil, Chevron/Texaco, BP/Amoco, and Royal Dutch/Shell about 4/5’s of the stupendous petroleum reserves in Iraq. That is the wretched goal of the Bush Administration, and in his speech setting the revenue-sharing “benchmark” Mr. Bush consciously avoided any hint of it.

The legislation pending now in Washington requires the President to certify to Congress by next October that the benchmarks have been met-specifically that the Iraqi hydrocarbon law has been passed. That’s the land mine: he will certify the American and British oil companies have access to Iraqi oil. This is not likely what Congress intended, but it is precisely what Mr. Bush has sought for the better part of six years.

It is why we went to war.