April 14, 2004

Iraqi Oil Exports and snarky Reuters article

Good news from Iraq - as reported by Reuters: bq. Baghdad has exported more than $7.5 billion in crude oil since last year's invasion of Iraq, the U.S.-led authority governing Iraq said on Tuesday. bq. The Coalition Provisional Authority had deposited a total of $7.54 billion in its Development Fund for Iraq as of last Thursday, it said in an Internet posting. As for the snarky comment by Reuters - check out the last paragraph: bq. Under a May 2003 U.N. Security Council resolution, the Coalition Provisional Authority is required to deposit all the proceeds of Iraqi oil exports into the fund. The resolution was intended to ensure Iraq's secretive U.S.-led civil administration was not engaged in any dubious practices in marketing Iraq's oil and using the money for reconstruction. Emphasis mine. They wouldn't be thinking of such dubious practices as the UN Oil-for-Food scandal now would they? Sheesh... Posted by DaveH at April 14, 2004 11:18 AM