Iraqi crude oil exports hit record low since war

[Barrett808]

BAGHDAD (AFP) - Oil exports from Iraq -- estimated to have the world's second largest reserves -- have hit a record postwar law, the oil ministry's spokesman said.

Exports of crude, which had run at an average about 1.6 million barrels a day since the end of the 2003 war, dropped to 1.2 mbd in November and 1.1 mbd in December, Assem Jihad said Monday.

"This was due to a combination of bad weather in the Gulf" where tankers hook up at terminals to take on crude and to "lack of electricity" to pump the oil, he said.

Exports from the north, by way of Turkey, were also badly affected by insurgent attacks, he said.

Insurgents have targeted oil facilities because of the vital importance to the government of crude exports, which make up 97 percent of its revenues.

http://news.yahoo.com/s/afp/20060102/bs_afp/iraqoilexports_060102165929%3b_ylt=A9FJqZr9ZrlDyDAALwmmOrgF%3b_ylu=X3oDMTBiMW04NW9mBHNlYwMlJVRPUCUl

[Deja Q]

1. With the military having to protect it from "insurgents", who is surprised

to know this?

So much for the oil being used to pay for the war, which I doubt would have happened anyway.

[cal04]

2. OLD-STYLE COUP

Uloum's resignation as oil minister came after what looked like an old-style ministerial coup last month, when he was placed on leave against his will and replaced by Iraqi Deputy Prime Minister Ahmad Chalabi.

Uloum had opposed the December 19 fuel prices rises, saying they should have been introduced more gradually. The price of premium gasoline went up by 200 percent, with other fuels doubling in price. However, given the level of subsidy, further price rises seem likely under the IMF's strictures.

http://news.yahoo.com/s/nm/20060102/wl_nm/iraq_dc_35

[Inland]

3. What's worse than a war for oil?

A war for oil that causes a net loss of oil. As long as our president is an evil sonafabitch, could he at least be good at stealing shit?

[rucky]

4. K&R!!!

[Bushies gotta go]

5. Shrub can't even get the oil theft right. Way to go *

[rucky]

6. It's all off the books.

I guarantee you that the "lost" oil revenues match the unmetered oil that's been passing into Halliburton's belly.