Team Infidel
Forum Spin Doctor
Media: The Associated Press
Byline: By PAULINE JELINEK
Date: 28 September 2006
WASHINGTON_Iraq's most important moneymaker _ its oil industry _ lost $16
billion (?12.6 billion) in two years to insurgent attacks, criminals and bad
equipment, a secret U.S. audit says.
The Baghdad government "must take bold action" to protect its oil and
electrical facilities, concludes an unclassified summary of the classified
audit.
"Iraq cannot prosper without uninterrupted export of oil and the reliable
delivery of electricity," Stuart W. Bowen, Special Inspector General for
Iraq Reconstruction, said in the summary released Thursday.
In addition to the estimated $16 billion (?12.6 billion) export revenue lost
between January 2004 and March 2006, Bowen said Iraq also is paying billions
of dollar to import refined petroleum products it needs.
The United States has invested some $320.3 million (?251.9 million) to train
and equip several security forces. And it has developed an array of plans to
help the three Iraq ministries that share responsibility _ Ministry of
Defense, Ministry of Oil and Ministry of Electricity.
But Baghdad didn't have a permanent government in place until recently and
some ministries showed "limited initiative," leaving Iraq with "much to do"
to put the U.S. plans into action, the summary said.
Bowen said that even if attacks ceased, criminal activity and aging and
poorly maintained infrastructure would still hamper oil exports and
electricity production.
Byline: By PAULINE JELINEK
Date: 28 September 2006
WASHINGTON_Iraq's most important moneymaker _ its oil industry _ lost $16
billion (?12.6 billion) in two years to insurgent attacks, criminals and bad
equipment, a secret U.S. audit says.
The Baghdad government "must take bold action" to protect its oil and
electrical facilities, concludes an unclassified summary of the classified
audit.
"Iraq cannot prosper without uninterrupted export of oil and the reliable
delivery of electricity," Stuart W. Bowen, Special Inspector General for
Iraq Reconstruction, said in the summary released Thursday.
In addition to the estimated $16 billion (?12.6 billion) export revenue lost
between January 2004 and March 2006, Bowen said Iraq also is paying billions
of dollar to import refined petroleum products it needs.
The United States has invested some $320.3 million (?251.9 million) to train
and equip several security forces. And it has developed an array of plans to
help the three Iraq ministries that share responsibility _ Ministry of
Defense, Ministry of Oil and Ministry of Electricity.
But Baghdad didn't have a permanent government in place until recently and
some ministries showed "limited initiative," leaving Iraq with "much to do"
to put the U.S. plans into action, the summary said.
Bowen said that even if attacks ceased, criminal activity and aging and
poorly maintained infrastructure would still hamper oil exports and
electricity production.