[Congressional Record Volume 148, Number 72 (Wednesday, June 5, 2002)]
[Extensions of Remarks]
[Pages E963-E964]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




             SHEER ENERGY'S $80 MILLION CONTRACT WITH IRAN

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                            HON. TOM LANTOS

                             of california

                    in the house of representatives

                         Tuesday, June 4, 2002

  Mr. LANTOS. Mr. Speaker, today I am introducing a resolution 
condemning Iran's continued support for international terrorism, its 
efforts to acquire weapons of mass destruction and the means to deliver 
them, and a recent investment that supports these heinous activities, 
which are of utmost concern to the national security interests of the 
United States and to the war on terrorism. In particular, this 
resolution addresses the Canadian oil company Sheer Energy and the 
National Iranian Oil Company recent announcement of an $80 million 
contract for development of an Iranian petroleum field.
  I am appalled that a Canadian oil company would aid and abet Iran's 
campaign of international terrorism by cutting a deal with the regime's 
oil exploration and development arm. The $80 million contract to 
develop oil fields in Iran shows conspicuous contempt for the terrorist 
threat that Iran clearly represents. Furthermore, Iran is clearly 
embarked on a policy of developing weapons of mass destruction with oil 
profits such as those to be gained through this deal. I call on the 
Administration to impose the stiffest sanctions on this rogue company 
in accordance with the law of the land. We cannot permit greedy 
multinational corporations to lubricate the machinery of terrorism 
operating in Iran and elsewhere through such corrupt and inhumane oil 
deals.
  Mr. Speaker, this oil deal flouts much more than United States law. 
It flouts every principle America and all civilized nations are 
fighting for in the war against terrorism. It flouts the memory of all 
those innocent men and women that perished on September 11th, including 
a number of Canadian nationals. The profits reaped from this deal by 
the ayatollahs in Iran will be used to bankroll terrorist 
organizations, such as Hizbollah, that target U.S. citizens and 
interests abroad. I am introducing a resolution today which urges the 
Bush Administration to punish the Canadian company with economic and 
financial sanctions in accordance with the Iran-Libya Sanctions Act. We 
must shut off the spigot of blood money to Iran now--or pay the price 
in lives lost later.

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