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Politics : GOPwinger Lies/Distortions/Omissions/Perversions of Truth
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To: JeffA who wrote (72387)7/17/2006 4:07:24 PM
From: American Spirit  Read Replies (1) of 173976
 
Who Is Stealing Iraq's Oil Revenues?

(* Remember Cheney's pals Chalabi and his own company Halliburton control the Iraqi oilfields, so if tens of billions are missing, it's their fault.)

Walker, who heads the Government Accountability Office, made his remarks at a House Government Reform subcommittee meeting last Tuesday called to examine implementation of the Bush administration’s 2005 "National Strategy for Victory in Iraq." He said one of the failures of the U.S. program was related to the prewar assumption that Iraq would be able to pay for its reconstruction "in large part through oil revenues."

He said about 10 percent of Iraq’s refined fuels and 30 percent of its imported fuels are being stolen, in part because the subsidized Iraqi price of gasoline, about 44 cents a gallon, is less than half the regional price of 90 cents a gallon.

"That provides a tremendous incentive to be able to steal these fuels and be able to sell them for whatever purposes, corruption or otherwise," Walker said.

Walker noted that oil production, which was to provide prime support to the new government, is below prewar production and distribution levels, complicated by the insurgency and difficulties in maintaining the aging oil infrastructure.
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