Sunday, May 13, 2007

A Genuinely Horrible Oil Fact

The New York Times is reporting that between 5-15% of Iraqi oil production goes missing every day and has been doing so for the past four years. That's 100,000-300,000 barrels daily.

Apparently, investigators aren't sure if the loss is caused by improper production estimates, theft, graft, sabotage, or some mixture.

Oil is basically Iraq's only source of revenue. This is a mess, folks.

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