Iraq Oil Revenue Now and Then

From Scout:

Yesterday from BBC

Attacks by insurgents on Iraq’s oil industry cost the country $6.25bn (£3.6bn) in lost revenue during 2005, according to the Iraqi oil ministry.

A total of 186 attacks were carried out on oil sites last year, claiming the lives of 47 engineers and 91 police and security guards, a spokesman said.

US officials say the cost of rebuilding Iraq could reach more than $56bn.

Also consider this from the former commander of Multi-National Corps-Iraq Lt. Gen. John Vines in January 2006……..

“There are not many ways to legally make money when oil flows from a wellhead to a ship at sea, because the government controls all of that,” he said.

“However, you might get paid to attack that pipeline, or if you have a repair contract you might get paid by the number of repairs you made. If you have a trucking contract you might get paid by the number of barrels of oil you haul. … That’s not an insurgent problem, that’s a contracting problem. All the incentives there are for the oil not to flow.”(emphasis mine)

Finally, a visionary Iraq War architect Paul Wolfowitz in 2003……..

“There’s a lot of money to pay for this that doesn’t have to be U.S. taxpayer money, and it starts with the assets of the Iraqi people…and on a rough recollection, the oil revenues of that country could bring between $50 and $100 billion over the course of the next two or three years…We’re dealing with a country that can really finance its own reconstruction, and relatively soon.” [Source: House Committee on Appropriations Hearing on a Supplemental War Regulation, 3/27/03]