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Iraq Economy Being Crippled By Oil Corruption

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posted on Apr, 25 2006 @ 12:11 PM
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A new report shows that the biggest threat to Iraq's economy is oil industry corruption. The new report states that the only solution is an immediate crackdown on the Iraq government. Its reported about 20 per cent of its oil, worth 4.2 billion in US dollars, was smuggled out of the country. This, its said, is causing a major delay on rebuilding Iraq.
 



www.thestar.com
BAGHDAD (AP) — Corruption and smuggling in Iraq's oil industry have become the biggest threat to the country's economy, a new report said Tuesday.

The report, prepared by the office of the inspector general of Iraq's oil ministry, said the only solution is an urgent crackdown by Iraq's government.

Corruption and smuggling, combined with frequent attacks on oil pipelines in the north by insurgents, have prevented Iraq from rebuilding its battered oil infrastructure, said the report, released by Assem Jihad, spokesman for the inspector general's office.
"For example, about 20 per cent of the oil products that Iraq imported last year, worth $4.2 billion US, were smuggled to neighbouring countries," the report said. "Crude oil produced in Iraq also was stolen from its pipelines."




Please visit the link provided for the complete story.


This shows a good reason of why iraq REALLY is having such a hard time getting back on its feet. Its main source of income is being robbed from them. I agree there needs to be an immediate crackdown on the new government. I have a feeling that its our fault, and again prove we have done then more damage then good. Our fault? We invaded and allowed this all to occur. Whos doing the smuggling and profitting is what I want to know.

Related News Links:
today.reuters.co.uk
www.leadingthecharge.com

[edit on 25-4-2006 by grimreaper797]




posted on Apr, 25 2006 @ 06:15 PM
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The problem is that we do not get the whole picture of what is going on with the Iraqi oil.



UP to $US194 billion ($263 billion) in Iraqi oil revenues are going to multinational oil companies under long-term contracts, and not to the Iraqi people, a social and environmental group said today.


The oil in Iraq is been use by foreign investors and the oil rather than going to the benefit of the country and its people it goes to line the pockets of foreign investors.



Louise Richards, chief executive of aid charity War on Want, said: "People have increasingly come to realise that the Iraq war was about oil, profits and plunder."
"Iraq's oil profits, far from being used to alleviate some of the suffering the Iraqi people now face, are well within the sights of the oil multinationals."


This is one of those things that we do not see much in the news

It was a war for oil after all.

www.news.com.au...




posted on Apr, 25 2006 @ 07:09 PM
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not hearing much in this thread. i figured it would be pretty big news since the oil is being robbed right out of iraq since we won the war. this is all just a coincidence though, its not our fault


never taking responsiblity for things that are your fault, the good old american way it seems to be now.



posted on Apr, 25 2006 @ 08:10 PM
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The problems with threads like this is that emphasizes the issue that the war in Iraq was after all for the oil.

Many are starting to realized that Iraq was a unnecessary risk that we didn't need.

It was a lot of debate about the oil.

The truth is that it was for oil after all, control and manipulation in order to save the future of energy profit seekers.



posted on Apr, 26 2006 @ 09:34 AM
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Its reported about 20 per cent of its oil, worth 4.2 billion in US dollars, was smuggled out of the country.


The above statement is incorrect. Not all of the oil was from Iraq. Some of the oil was imported first from other countries while other amounts were stolen from its own pipelines.



www.thes tar.com

"For example, about 20 per cent of the oil products that Iraq imported last year, worth $4.2 billion US, were smuggled to neighbouring countries," the report said. "Crude oil produced in Iraq also was stolen from its pipelines."

Please visit the link provided for the complete story.




Posted by grimreaper797,
I figured it would be pretty big news since the oil is being robbed right out of iraq since we won the war. this is all just a coincidence though, its not our fault


In order to prove it is our fault one first has to determine is who stole the oil first. It is very conceivable that corrupted Iraqi Officials or former members of Saddam's regime may be responsible for the missing oil. From what I can see on a map of the area the pipelines in the north and east go to Iran and Syria which the US does not have access to. Hmm corruption again? Yup, skim the oil off the same way you did in the food for oil program by shipping it to Iran and Syria via your own pipelines.

Use some logic here you cannot move that amount of oil around un-noticed, therefore it has to be corrupt officials or perhaps insurgents that are doing it.

Now you are probably asking well how can insurgents steal it? Easy infiltrate the Pipeline Company and work for it. Then claim x amount of oil went through the pipeline when in fact xx went trough it. Then get the two nations who are known to support insurgents sell the surplus for you.

There are too many unanswered questions here, so I would not jump to conclusions and blame it on the US alone.



posted on Apr, 26 2006 @ 01:33 PM
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ok first off i dont think ti really matters where the oil came from, just that its being stolen from iraq. It doesnt matter if iraq bought it from another country. Its damaging to their economy. And yes, regardless of whos stealing it, it is partially the US fault. We went in, we caused all the turmoil, we did a bunch of things else that we did on our own decision. We put the iraqi government in charge. We made these decisions. The US government and businesses may not be stealing it, which is in question, but that doesn't mean they probably wont benefit from it at one point or another. All while regardless of where the oil came from, or who stole it, its still messing up iraqs economy. Its taking serious shots for a country that was just been ravaged by a war.



posted on Apr, 26 2006 @ 06:44 PM
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Speaking of pipelines....







Rebuilding of Iraqi Pipeline as Disaster Waiting to Happen

When Robert Sanders was sent by the Army to inspect the construction work an American company was doing on the banks of the Tigris River, 130 miles north of Baghdad, he expected to see workers drilling holes beneath the riverbed to restore a crucial set of large oil pipelines, which had been bombed during the invasion of Iraq.What he found instead that day in July 2004 looked like some gargantuan heart-bypass operation gone nightmarishly bad. A crew had bulldozed a 300-foot-long trench along a giant drill bit in their desperate attempt to yank it loose from the riverbed. A supervisor later told him that the project's crews knew that drilling the holes was not possible, but that they had been instructed by the company in charge of the project to continue anyway.

A few weeks later, after the project had burned up all of the $75.7 million allocated to it, the work came to a halt. The project, called the Fatah pipeline crossing, had been a critical element of a $2.4 billion no-bid reconstruction contract that a Halliburton subsidiary had won from the Army in 2003. The spot where about 15 pipelines crossed the Tigris had been the main link between Iraq's rich northern oil fields and the export terminals and refineries that could generate much-needed gasoline, heating fuel and revenue for Iraqis.

For all those reasons, the project's demise would seriously damage the American-led effort to restore Iraq's oil system and enable the country to pay for its own reconstruction. Exactly what portion of Iraq's lost oil revenue can be attributed to one failed project, no matter how critical, is impossible to calculate. But the pipeline at Al Fatah has a wider significance as a metaphor for the entire $45 billion rebuilding effort in Iraq. Although the failures of that effort are routinely attributed to insurgent attacks, an examination of this project shows that troubled decision-making and execution have played equally important roles.

More...



Yeah, let's broaden who gets painted with the "corruption" brush....



posted on Apr, 26 2006 @ 07:04 PM
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well i guess now we know why terrorism lives in this region.
"and the rest of the world doesnt believe that you fighting for freedom/
cause you ****ed the Middle East and gave birth to a demon/"-Immortal Tech.

Poor people, makes you wonder how they are holding on, how they are managing to survive. Their economy looks like its getting kicked out from under them. Im sure this sends a great message to the world about "US freedom and democracy"



posted on Apr, 26 2006 @ 08:12 PM
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www.irishexaminer.com...


THE US government dispatched its top two foreign policy officials to Iraq yesterday in a dramatic show of support for the country’s emerging government.


www.thestar.com.../Layout/Article_Type1&c=Article&pubid=968163964505&cid=1145962619993&col=968705899037&c all_page=TS_News&call_pageid=968332188492&call_pagepath=News/News


The report, prepared by the office of the inspector general of Iraq's oil ministry, said the only solution is an urgent crackdown by Iraq's government.


well this is a bit interesting lol. they are supporting the government in which the the inspector general of Iraqs oil ministry says needs an urgent crackdown against. Does this point to something? Maybe, maybe not, either way things are getting worse and worse in this whole middle east region by the moment. I dont think anyone will disagree with that, so something needs to be done now. The change we made apparently wasnt a good one, i think its time for a change up in plans before its too late.



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