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Monday, January 02, 2006

No oil for lots of blood

Well, hardly any. From the NY Times:
Iraq's oil exports hit their lowest level since the war, according to figures released on Monday, heightening a sense of crisis as fuel supplies grow scarce and political leaders struggle to form a government.

Iraq exported 1.1 million barrels per day (bpd) of oil in December, a senior official said -- less than any month since exports resumed in mid-2003 after the U.S. invasion and about half the level seen during sanctions under Saddam Hussein.

Sabotage is damaging plants and blocking investment, keeping exports at a fraction of targets officials say should be met if Iraq's vast reserves are to provide its people with the prosperity that might draw the sting of civil conflict.
But don't worry--Iraq's oil ministry is in good hands:
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.
I don't think that oil can be deposited into Swiss bank accounts, but if it can, the scumbag who told W the lies he wanted to hear will find a way.