Iraqi Pipelines Hit Again as Oil Losses Grow--Daily Star, Lebanon

[Gloria]

From the new World Media Watch http://www.zianet.com/insightanalytical
Tomorrow at Buzzflash.com

2//The Daily Star, Lebanon Monday, October 25, 2004

http://www.dailystar.com.lb/article.asp?edition_id=10&categ_id=3&article_id=9552



IRAQI PIPELINES HIT AGAIN AS OIL LOSSES GROW

Latest sabotage leaves export revenues far below prewar estimates

Compiled by Daily Star staff

SNIP

Oil was supposed to be the linchpin of Iraq's bright, postwar future, but some 250 attacks have blown apart pipelines and other oil infrastructure, contributing to losses estimated at between $7 billion and $12 billion in potential export revenue.

The country's sputtering oil revenues have fallen far short of prewar predictions by U.S. President George W. Bush's administration that Iraq could finance its own reconstruction.


SNIP

More than $1 billion in Iraqi oil revenues also flowed to American and British companies, who landed expensive contracts from the now defunct U.S.-led occupation authority, often without competitive bidding.

Halliburton Co., the oil services company that Vice President Dick Cheney once ran, landed 60 percent of the large contracts financed by Iraqi oil funds, audits show.


(SNIP)


"It's very clear that oil isn't going to make Iraq rich," said Keith Crane, an economist with the Rand Corp. and former adviser to the U.S.-led occupation in Baghdad.

Even if Iraq succeeds in tripling output by 2010, as is hoped, Iraq's oil bounty will, by itself, provide a per capita income of around $1,500 per year, making Iraqis in 2010 poorer than the average Brazilian is today, Crane said.



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[smiley_glad_hands]

1. I guess we know where all the explosives went. eom

[barb162]

2. well I think we should send Wolfowicz over there and straighten

things out. He said the war would be paid for with the oil revenues and I think he should figure out how to do that.

[VegasWolf]

5. We can't, too dry over there for him to spit comb his hair for

the photo-op. What with the wind and everything his
hair would be a disaster.

Poor Halliburton, losing all that oil revenue. This year they
may be down to only 1000% profit.

New Information Shows Bush Indecisive, Paranoid, Delusional

[Spazito]

3. Just a quick post to say how I appreciate your posts from World Media

Watch via Buzzflash. I don't often post to your threads but read them with great interest. Thank you for your effort, I do appreciate it!

[Gloria]

4. Much appreciated! You don't know how many times I've almost

quit posting them to DU....

[burrowowl]

6. Me too!

[Comadreja]

7. OR

It is actually being stolen by the corporations and sold on the black market. Without reporters venturing out of the Green Zone, how do we know for sure?