Where the hell is the money from Iraq oil sales??

[KelleyKramer]

Iraq has the second largest oil reserves in the world.

The US has controlled Iraq for over three years now.

Oil is now at over $70 a barrel.

They (somebody) have been selling at least a million barrels a day out of Iraq for three years.

Thats over 25 BILLION dollars a year in oil sales.. for three years.

Where is the money??

[CuteNFuzzy]

1. Not that this is a direct answer, but -

didn't Exxon recently post their largest earnings ever?

[Erika]

2. There is extreme corruption in the Iraqi oil program

at www.icasualties.org

[serryjw]

3. Call the World Bank and ask

Wolfowitz. He promised the oil would pay for the cost of liberating Iraq

[CottonBear]

4. An excellent grand jury question for VP Cheny. n/t

[KelleyKramer]

5. He is already getting another 25 BILLION a year for halliburton

Thats probably low, someone will check I'm sure.

In the form of no-bid (hand out) contracts,

The 60 BILLION to 100 BILLION that American tax payers are spending on this disaster each year is another matter.

I'm just asking about the 25+ BILLION a year in oil sales.

Where is that money??

[Elwood P Dowd]

6. 25 bill is pocket change. The Bush Crime Family is embezzling trillions

The 112 billion barrels of oil in Iraq are now worth over 7 trillion dollars.

Bush is running budget and current account giveaways totaling 1.2 trillion dollars a year.

The defense expenditures under Bush will total over 4 trillion dollars after 8 years.

Bush pork and tax breaks to the rich will run well over a trillion dollars.


THIS IS THE BIGGEST CRIME IN WORLD HISTORY!

[TomInTib]

7. Bottom line

Bottom line
Bottom line
Bottom line

production costs vs price

It is so easy

[KelleyKramer]

8. So where is the 'bottom line'

You are right.

Oil is at over $70 a barrel.

Second largest oil reserve in the world

Even at a very low production, there are huge profits

Where is the bottom line?

Where is the money?

[DELUSIONAL]

9. Last I heard there is no metering of the oil

so a few barrels here and a few barrels there -- this could add up quickly.

I expect that somewhere there is a record of the oil tankers loading in the ports -- and an estimate of how much they carry.

There is also the alleged slant drilling from Kuwait into the Southern Iraq oil fields (the reason why Saddam invaded Kuwait which brought on Gulf War I).

[KelleyKramer]

13. Galloway said that too..

In a Senate hearing, the oil is pumped out of Iraq un-metered.. havent heard much or anything about it since.

The one million barrels a day is a minimum, its probably much higher.

Where the hell is all that money going, and why is no one asking???

[B Calm]

10. Saddam was flooding the world market with cheap oil. Now you

know the rest of the story.

[dipsydoodle]

11. Does it matter

Given that Iraq didn't actually ask to invaded and have their infrastrusture destroyed I don't see that they owe anyone diddly squat.

Apart from that they only receive total revenues / barrel whatever from existing wells. On all new wells they will only receive a royalty. That's thanks to the Mickey Mouse constitution that was written for them by the USA. I reckon that constitution will, quote rightly, be tubed as soon as the coalition of the willing, aka complete bastards, bail out.

[Bassic]

12. In the industry's pockets of course

What did you think that would create savings for us regular folks? Fat chance of that happening, especially with Cheney at the helm.

[Vidar]

14. We shut down their production to drive up prices.