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New Possibly billions in Iraqi oil stolen
[link|http://www.alternet.org/waroniraq/51218|Alternet]
The line of ships at the Al Basra Oil Terminal (ABOT) stretches south to the horizon, patiently waiting in the searing heat of the Northern Arabian Gulf as four giant supertankers load up. Close by, two more tankers fill up at the smaller Khawr Al Amaya Oil Terminal (KAAOT). Guarding both terminals are dozens of heavily-armed U.S. Navy troops and Iraqi Marines who live on the platforms.

These two offshore terminals, a maze of pipes and precarious metal walkways, deliver some 1.6 million barrels of crude oil, at least 85 percent of Iraq's output, to buyers from all over the world. If the southern oil fields are the heart of Iraq's economy, its main arteries are three 40-plus inch pipelines that stretch some 52 miles from Iraq's wells to the ports.

Heavily armed soldiers spend their days at the oil terminals scanning the horizon looking for suicide bombers and stray fishing dhows (boats). Meanwhile, right under their noses, smugglers are suspected to be diverting an estimated billions of dollars worth of crude onto tankers because the oil metering system that is supposed monitor how much crude flows into and out of ABOT and KAAOT -- has not worked since the March 2003 U.S. invasion of Iraq.

The oil flow measuring system is broken, and it appears that a lot of money but little real effort has been spent to fix them. And in the mean time, there is obviously a lot of oil going into the gray market. How much is simply unclear, but it could be billions of dollars worth.

Jay
New Yes, the pipelines have been a problem....
For what it's worth:

[link|http://www.iags.org/iraqpipelinewatch.htm|http://www.iags.org/...pipelinewatch.htm]
New and the record profits of the oil companies
certainly a co-wince-a-dence.
New War for profit.
     Possibly billions in Iraqi oil stolen - (JayMehaffey) - (3)
         Yes, the pipelines have been a problem.... - (dmcarls)
         and the record profits of the oil companies - (Simon_Jester) - (1)
             War for profit. -NT - (jake123)

My pain became my strength I am reborn I'm deaf not dumb lest you forget.
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