Prometheus 6

Iraqis oil traders, on the other hand, tell me they think they know exactly where the stolen oil is going — the militias appropriate it to arm and feed the rank and file.

Who Is Stealing Iraq's Oil?
By Robert Baer

It took quite a while, but it appears that the Bush Administration has finally gotten around to acknowledging that Iraq has an oil problem. The Government Accountability Office is about to release a report that estimates 100,000 to 300,000 barrels of oil goes missing every month. According to the New York Times, the GAO will not offer a conclusion about what specifically is happening to the missing oil, other than it is probably lost to corruption, smuggling or just bad accounting.