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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: Jim Willie CB who wrote (724)	9/12/2003 9:21:32 PM
From: mishedlo	Read Replies (1) of 110194

Iraq needs to import oil. WTF? biz.yahoo.com Earlier this year Halliburton was granted, without competition, a contract by the Army Corps of Engineers to repair and restore Iraq's oil fields. As of Sept 8, the total cost of that contract to taxpayers was just under $948 million, spokesman Scott Saunders said on Friday. That's about $200 million higher than projected just last month, mostly because the U.S. has been forced to import oil and fuels into Iraq, which has the world's second-largest oil reserves after Saudi Arabia. Importing oil, gasoline, diesel and propane is costing the United States about $6 million per day. "We didn't expect to have this much trouble getting production back up, or to have pipelines blown up and power stations sabotaged," Corps spokesman Scott Saunders said.

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