Daily Revolt

May 12, 2007

Billions in Oil Missing in Iraq, U.S. Study Finds

This should not come as surprize to anyone except those brainwashed into thinking that we are in Iraq to further democracy. So let me get this straight, are soldiers are dying to prop up a government that steals millions in oil production. This follows the story of the missing 12 billion in cash that cannot be accounted for. You can bet some of that oil money found its way to Dick and George's friends over there:
Between 100,000 and 300,000 barrels a day of Iraq’s declared oil production over the past four years is unaccounted for and could have been siphoned off through corruption or smuggling, according to a draft American government report.

Missing Oil Using an average of $50 a barrel, the report said the discrepancy was valued at $5 million to $15 million daily.

The report does not give a final conclusion on what happened to the missing fraction of the roughly two million barrels pumped by Iraq each day, but the findings are sure to reinforce longstanding suspicions that smugglers, insurgents and corrupt officials control significant parts of the country’s oil industry.

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