Saddam May Try to Blow Up Iraq's 1,500 Oil Wells, Pentagon Says
By Glen Justice
Washington, Jan. 24 (Bloomberg) -- Iraqi leader Saddam Hussein may try to blow up Iraq's 1,500 oil wills if the U.S. and its allied invade Iraq, a senior defense official said.
``There are a variety of intelligence sources that leave us with the impression or belief that the regime has the capability and intent to cause destruction to the oil fields,'' the official said, speaking to a gathering of reporters at the Pentagon on condition of anonymity. ``We see it as a real potential crisis.''
During the 1991 Gulf War, Saddam ordered the destruction of more than 700 of 1,000 oil wells in Kuwait as his army retreated, a disaster that took 18 months and about $20 billion to repair.
Pentagon officials say a similar move in Iraq could cause twice the damage, costing an estimated $30 billion to $50 billion to repair. It would also deprive the country of $20 billion to $30 billion in income needed to rebuild a post-war Iraq, the official said.
Though destroying the oil fields likely wouldn't pose tactical problems for the U.S. military, Pentagon officials are crafting plans to secure and protect the fields in the event of war.
Oil prices are up 66 percent from a year ago on the threat of war with Iraq. Crude oil for March delivery was up 35 cents, or 1.1 percent, at $32.60 a barrel as of 11:26 a.m. on the New York Mercantile Exchange. Prices have dropped 1 percent this week. |
