Iraq's oil money - where did it all go?

[dancing-loon]

Senate Committee Seeks Audit of Iraq Oil Money

Two senior members of the Senate Armed Services Committee have requested a full accounting of how Iraq is spending its soaring oil revenue, amid starkly conflicting estimates of how much the country has invested in rebuilding its broken infrastructure and providing basic services to its citizens.
.............
The senators requested detailed information on the amount of Iraqi oil revenue from 2003 to 2007, how much of that money has gone unspent, and “how much money does the Iraqi government have deposited, in which banks, and in what countries?”
http://www.nytimes.com/2008/03/09/wo...ld&oref=slogin
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I didn't even figure they were selling oil! I thought whatever little oil is actually flowing again goes straight to the US as payment for liberating the Iraqis from Saddam's tyranny!!
I guess, I was much mistaken!!

The other question is, what business is it of the American Government to want to know where, what and how much the Iraqi government spends where and on what?
Iraq sold oil before the American invasion and destruction of the country. The Rebuilding is Amerika's responsibility alone!!! Oh, Britain of course, too!!!

How do you see it?

 

[#juan]

Here is where a good bit of the oil money goes.

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Security Council

UN Finance

What's New Social & Economic Policy International Justice Opinion Forum Globalization Iraq Tables & Charts Nations & States Empire Links & Resources NGOs UN Reform Secretary General DONATE NOW Halliburton, Principal Beneficiary of Iraq's Reconstruction

By Eric Leser

Le Monde
June 20, 2003
Iraqi oil production is supposed to start up again Sunday June 22. Iraqi reconstruction constitutes veritable manna from heaven for numerous American companies, in particular, Halliburton and Bechtel. Halliburton specializes in petroleum engineering, but one of its subsidiaries, KBR, is charged with logistics for American troops on overseas' missions. Halliburton has obtained more than $600 million in total in contracts, while the total sum approved by Congress for reconstruction and humanitarian aid in Iraq is $2.4 billion. This reconstruction under the American aegis has forced the United Nations to end its "oil against food" program, from which many companies, particularly Russian, French and Chinese ones, derived advantage.
March 8, the U.S. Army Corps of Engineers awarded Kellogg Brown & Root (KBR), a Halliburton subsidiary a contract for $ 71.3 million (61 million Euros) to put Iraqi oil installations back in working order. The decision provoked a hue and cry. Not only were the precise details of the contract not publicized, but, because of "urgency and the need to respect military secrecy" the Pentagon's procedure was discretionary, without bidding or competition.
The Bush administration was accused then, notably by Democratic members of Congress, of "favoritism" toward a company whose CEO from October 1995 to 2000 had been Dick Cheney, today Vice President of the United States.
http://tinyurl.com/yv5ard

 

[#juan]

The above information is five years old..........Do we believe things have improved since then.:roll::smile:

 

[dancing-loon]

Hi, Juan;
your post is quite the lengthy and thorough essay!

I copied this particular sentence from it: "Any allegation that this contract exists to facilitate uncontrolled expenses is false and without foundation. The Vice President has nothing to do with Halliburton obtaining this transaction."

And this one, too: "An inquiry by Congress' investigation service demonstrated that in Bosnia Kellogg Brown & Root had multiplied excessive invoices."
~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~
Cheney still being paid by Halliburton:
http://www.guardian.co.uk/world/2003/mar/12/usa.iraq5

Cheney has millions in Halliburton.....
The disclosure form paints a somewhat more nuanced picture. The Vanguard Group holdings are easily among Cheney's largest holdings. Assets are given in ranges (from $100,000 to $1M; from $1M to $5M; etc).
Cheney's statement includes two holdings in the $500,000-$1M range; two holdings in the $1M-$5M range; and three holdings in the $5M-$25M range.
Thus Cheney's assets invested with Vanguard Group total $18M to $87M.

Given the size of Vanguard's stake in Halliburton, it is hard to imagine a mathematical possibility that Cheney's assets are unconnected to Halliburton's fortunes. http://marc.perkel.com/archives/000067.html
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This is all US money that the tax-payers put into the big pot from which Halliburton and subsidiaries get paid. What about die OIL MONEY that the Iraqi government supposedly takes in? Are they also hiring Halliburton for reconstruction jobs? Or are they using their own construction firms or firms from other countries?

Hasn't it been said that war is a lucrative business and is good for the economy of the victor?? Or is war good for the loser, too??

 

[dancing-loon]

The above information is five years old..........Do we believe things have improved since then.:roll::smile:

Improved which way???:-?
What I just posted is from 2005... a little more current.

 

[#juan]

Improved which way???:-?
What I just posted is from 2005... a little more current.

Your post was fine. The reports I've been reading indicate that a lot of money has been paid but not a lot of work has been done. Most Iraqis still don't have clean water or a dependable electrical system. I realise that violence in Iraq is at an all time high, but the question since day one has been; "why did we go into Iraq in the first place?" The answer that keeps coming up is "OIL"..

 

[Walter]

I realise that violence in Iraq is at an all time high,

US Commander: Iraq Violence Down
The commander of U.S. forces siad there has been a decrease of violence in Iraq.
06 March 2008 (Associated Press)
The commander of U.S. forces in the Middle East says there has been a dramatic decrease of violence in Iraq,

 

[#juan]

US Commander: Iraq Violence Down
The commander of U.S. forces siad there has been a decrease of violence in Iraq.
06 March 2008 (Associated Press)
The commander of U.S. forces in the Middle East says there has been a dramatic decrease of violence in Iraq,

The commander of the U.S. forces wants that to be true but the evidence is the opposite:
http://www.mcclatchydc.com/iraq/story/27346.html

http://www.theblog.org.uk/2008/02/violence-in-iraq-increasing-again.html

 

[normbc9]

Every time you see President Bush or his side kick Dick smile when they are discussing the Iraq situation just remember that their personal fortunes are growing by the moment. Not just the oil monies but also the kick backs from the contractors and war materials vendors who are also laughing all the way to the bank. Rumsfeld is now a Billionaire and Cheney is one ten times over. And we here in the US we just sit on our hands and wait for the next dose of perverted leadership to be elected to office to give us another version of this stuff their pockets routine. We deserve what we ourselves have voted to create.

 

[Walter]

And we here in the US we just sit on our hands and wait for the next dose of perverted leadership to be elected to office to give us another version of this stuff their pockets routine. We deserve what we ourselves have voted to create.

Move if it's that bad.

 

[MikeyDB]

Walter

Is there something wrong with holding your government accountable? Is your solution to every situation that comes along...."move if its that bad"...?

George Bush should be impeached and sent to prison. A great many of the Bush administration should receive similar sanction. If these great democracies we're living in are of any value of any kind, what gets acheived by avoiding the issues?

 

[Walter]

Walter

Is there something wrong with holding your government accountable? Is your solution to every situation that comes along...."move if its that bad"...?

George Bush should be impeached and sent to prison. A great many of the Bush administration should receive similar sanction. If these great democracies we're living in are of any value of any kind, what gets acheived by avoiding the issues?

You said you deserve this.

 

[MikeyDB]

I may well have said that in some earlier post but the current thread states this from the contributors perspective, not mine. If we expect perfection we're going to be disappointed all the time. If we're prepared to acknowlege our mistakes and learn from them we have a chance of avoiding the same mistakes again....

Throw out the baby with the bathwater does work, but it seems a little extreme...

 

[dancing-loon]

Baghdad bomb kills five US troops

Five US soldiers have been killed by a suicide bomb attack while they patrolled in Baghdad, the US army said. The suicide bomber approached the patrol on a Baghdad street and blew himself up, Iraqi police told Reuters.
Three other troops and an Iraqi interpreter were also injured in the attack, the US military said.
The attack follows the killing of Thaer Ghadban al-Karkhi, a Sunni tribal leader, in a suicide bomb attack on his house near Baquba earlier on Monday.
The US military told the BBC that the attack on its troops took place in the Mansour district of Baghdad.
"A terrorist wearing an explosive vest blew himself against a dismounted US patrol," Iraqi army spokesman Major General Qasim Ata told AFP.
"We remain resolute in our resolve to protect the people of Iraq and kill or capture those who would bring them harm," Colonel Allen Batschelet, chief of staff of US forces in Baghdad, told Reuters.
The attack is believed to be the most deadly strike on US forces in Baghdad for several months.

http://news.bbc.co.uk/2/hi/middle_east/7287917.stm
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Never praise the day before evening!!!
My mind is already so suspicious that doubt creeps up and I wonder, are they telling the truth or is this some political move to achieve some brain washing for whatever reason??
Shame on me for even questioning in my mind!!

 

[dancing-loon]

They caught the thief!!8O

What a relief this must be for the Americans and Israelis no longer to be considered suspects!

Read all about it here: http://www.nytimes.com/2008/03/16/wo...hp&oref=slogin
Iraq’s Insurgency Runs on Stolen Oil Profits

Ghalib Ali Hamid, the intelligence and internal affairs chief at the Baiji oil refinery in Iraq, was arrested on suspicion of skimming profits and having ties to insurgents. More Photos >

Why are the Americans controlling the oil pumps, the trucks, the paper work... the whole apparatus as it seems. Isn't it the Iraqi's oil? Are they not allowed to sell it to whom ever they please? It is also their land, their country!!