Saturday, May 12, 2007

Lies, Theft, Corruption?

Any one or a combination of them could be the problem why between 5-15% of the daily production of oil in Iraq is not accounted for. There are few, if any, wells where the flow is metered, so it may be that Iraq misstated pre-war production. That's a possibility, but I suspect that the latter two - theft and corruption - are more likely causes of the discrepancy.

The production of electricity keeps falling. Last year the grid produced 4300 megawatts, this year it's 3800.

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