Its All About The Oil

Now this should come as no shock to anyone. Amid massive chaos there's bound to be corruption. I wouldn't be at all surprised to find out upon further investigation that US companies have pretty dirty hands in this.

U.S. Comptroller General David M. Walker told Congress last week that "massive corruption" and "a lot of theft going on" in Iraq's government-controlled oil industry is hampering the country's ability to govern itself.

"It took me about, you know, a second and a half to realize that, obviously, there was massive corruption going on, because the numbers just didn't add up," Walker said, referring to a trip he took to Iraq this year in which he was shown figures on oil production and revenue.

Walker, who heads the Government Accountability Office, made his remarks at a House Government Reform subcommittee meeting last Tuesday called to examine implementation of the Bush administration's 2005 "National Strategy for Victory in Iraq." He said one of the failures of the U.S. program was related to the prewar assumption that Iraq would be able to pay for its reconstruction "in large part through oil revenues."

He said about 10 percent of Iraq's refined fuels and 30 percent of its imported fuels are being stolen, in part because the subsidized Iraqi price of gasoline, about 44 cents a gallon, is less than half the regional price of 90 cents a gallon. "That provides a tremendous incentive to be able to steal these fuels and be able to sell them for whatever purposes, corruption or otherwise," Walker said. [emphasis mine]

And don't you just love the gas prices over there compared to the US? Of course you could get blown to pieces getting that gas or shot by the US coalition if you drive in the wrong area. No liesurely Sunday drives for Iraqis even if they could afford it.

Sorry, but I forgot the link earlier.