Iraqi Amateurs Steal Only $69 Million

From Holden:

Compared to the Coalition Provisional Authority, when it comes to stealing the country’s oil wealth the Interrim Government of Iraq was amteurish at best. But at least they tried.

Iraqi officials cannot explain what happened to $69 million worth of fuel oil produced in the second half of 2004, raising fears that it was smuggled out of the country for private gain, according to a report by UN-appointed auditors.

The report, by the auditing firm KPMG, was released Monday. The auditors said Iraq’s recorded exports of fuel oil mysteriously declined by a comparable amount during that same period of 2004, the initial months of sovereignty for the newly installed Iraqi government.

[snip]

“We were not provided with a satisfactory explanation for either the unreconciled quantities or sales decrease of fuel oil,” the report states. In subsequent paragraphs, it takes note of the suspicions of widespread oil smuggling that were previously voiced by U.S. officials and describes Iraq’s weak controls on sales of oil and oil products.