Nbadan
05-13-2007, 04:57 PM
"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," the NEW YORK TIMES reports on Saturday page ones. Excerpts.
....
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 2 million barrels pumped by Iraq each day, but the findings are sure to reinforce long-standing suspicions that smugglers, insurgents and corrupt officials control significant parts of the country's oil industry.
Rawstory (http://rawstory.com/news/2007/Billions_in_oil_missing_in_Iraq_0511.html)
So these 'corrupt officials' and 'Insurgents' have figured out a way to siphon billions of dollars worth of oil out of the ground without the American Petro Companies noticing is the real story here.
....
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 2 million barrels pumped by Iraq each day, but the findings are sure to reinforce long-standing suspicions that smugglers, insurgents and corrupt officials control significant parts of the country's oil industry.
Rawstory (http://rawstory.com/news/2007/Billions_in_oil_missing_in_Iraq_0511.html)
So these 'corrupt officials' and 'Insurgents' have figured out a way to siphon billions of dollars worth of oil out of the ground without the American Petro Companies noticing is the real story here.