imc indymedia

Los Angeles Indymedia : Activist News

white themeblack themered themetheme help
About Us Contact Us Calendar Publish RSS
Features
latest news
best of news
syndication
commentary


KILLRADIO

VozMob

ABCF LA

A-Infos Radio

Indymedia On Air

Dope-X-Resistance-LA List

LAAMN List




IMC Network:

Original Cities

www.indymedia.org africa: ambazonia canarias estrecho / madiaq kenya nigeria south africa canada: hamilton london, ontario maritimes montreal ontario ottawa quebec thunder bay vancouver victoria windsor winnipeg east asia: burma jakarta japan korea manila qc europe: abruzzo alacant andorra antwerpen armenia athens austria barcelona belarus belgium belgrade bristol brussels bulgaria calabria croatia cyprus emilia-romagna estrecho / madiaq euskal herria galiza germany grenoble hungary ireland istanbul italy la plana liege liguria lille linksunten lombardia london madrid malta marseille nantes napoli netherlands nice northern england norway oost-vlaanderen paris/Île-de-france patras piemonte poland portugal roma romania russia saint-petersburg scotland sverige switzerland thessaloniki torun toscana toulouse ukraine united kingdom valencia latin america: argentina bolivia chiapas chile chile sur cmi brasil colombia ecuador mexico peru puerto rico qollasuyu rosario santiago tijuana uruguay valparaiso venezuela venezuela oceania: adelaide aotearoa brisbane burma darwin jakarta manila melbourne perth qc sydney south asia: india mumbai united states: arizona arkansas asheville atlanta austin baltimore big muddy binghamton boston buffalo charlottesville chicago cleveland colorado columbus dc hawaii houston hudson mohawk kansas city la madison maine miami michigan milwaukee minneapolis/st. paul new hampshire new jersey new mexico new orleans north carolina north texas nyc oklahoma philadelphia pittsburgh portland richmond rochester rogue valley saint louis san diego san francisco san francisco bay area santa barbara santa cruz, ca sarasota seattle tampa bay tennessee urbana-champaign vermont western mass worcester west asia: armenia beirut israel palestine process: fbi/legal updates mailing lists process & imc docs tech volunteer projects: print radio satellite tv video regions: oceania united states topics: biotech

Surviving Cities

www.indymedia.org africa: canada: quebec east asia: japan europe: athens barcelona belgium bristol brussels cyprus germany grenoble ireland istanbul lille linksunten nantes netherlands norway portugal united kingdom latin america: argentina cmi brasil rosario oceania: aotearoa united states: austin big muddy binghamton boston chicago columbus la michigan nyc portland rochester saint louis san diego san francisco bay area santa cruz, ca tennessee urbana-champaign worcester west asia: palestine process: fbi/legal updates process & imc docs projects: radio satellite tv
printable version - js reader version - view hidden posts - tags and related articles

OPERATION IRAQI PLUNDER

by Lorenzo Nencioli Friday, Oct. 08, 2004 at 1:55 AM
mbatko@lycos.com

The United States spends Iraq's money - with little accountability.

OPERATION IRAQI PLUNDER

The United States spends Iraq’s money – with little accountability

By Lorenzo Nencioli

[This article was published in: Dollars and Sense, July/August 2004. Lorenzo Nencioli is a freelance writer living in Boston. He writes frequently on U.S. foreign policy.]

As the war in Iraq looks increasingly like an imperialist quagmire, so does the Bush administration’s handling of Iraqi oil wealth.

Shortly after the U.S. invasion in March 2003, the Coalition Provisional Authority (CPA) appropriated billions of dollars of Iraqi wealth, including frozen Iraqi assets in the United States and abroad and new oil revenues. The funds were to be spent on reconstructing Iraq; they are in addition to the .4 billion in U.S. taxpayer dollars that Congress appropriated last year for Iraq reconstruction.

Expenditure of these funds has been beset by secrecy, nepotism, and an absence of minimally acceptable accounting practices. As a result, the Iraqi people may never know how the U.S. occupiers have spent their wealth. They do know that their money is being monitored under at best a far more casual regime than the already weak accounting standards that track U.S. dollars spent in Iraq.

In May 2003, the United Nations and other international bodies formed an oversight body, the International Advisory and Monitoring Board (IAMB), to audit the CPA’s expenditures of Iraqi oil revenues via the Development Fund for Iraq (DFI). The DFI was created by the United Nations as the main repository of Iraqi oil revenue, since last May, the fund has taken in over billion and has committed over billion for various projects and purchases, from school renovations to combat boots and body armor.

The IAMB and a number of nonprofit organizations in Iraq maintain that the board’s attempt to oversee those expenditures have been thwarted by an uncooperative and secretive CPA. “It has been impossible to tell with any accuracy what the CPA has been doing with Iraq’s money,” notes the U.K.-based agency Christian Aid, whose June 2004 report estimates that billion of Iraqi oil revenue has been not been accounted for by the CPA. Another group that has closely monitored the CPA, Iraq Revenue Watch, cautioned as early as last fall that, in its estimate, over billion of DFI money was being spent without any independent management or supervision. Both groups, as well as the IAMB, have noted that the CPA does not meter Iraqi oil extraction-a standard industry practice-making it impossible to accurately track production or to determine how much oil has been smuggled prior to refining and shipping.

Despite the fog surrounding CPA business practices, there is at least one clear example of how the CPA has been spending Iraqi oil revenue; it used DFI money to award three no-bid contracts worth .4 billion to Halliburton Corp. Although Congress has prohibited the awarding of noncompetitive contracts with federal funds, the DFI was under no similar legal constraint-and its administrators in the CPA evidently did not see a need to apply the same standard to the outlay of Iraqi funds. Halliburton, the energy services company once headed by Vice President Dick Cheney, has recently come under fire for a number of potentially criminal business practices, including overcharging the federal government by million for fuel delivery services.

Such bloated contract awards are particularly galling given the many Iraqi construction companies that were waiting for their fair share of DFI contracts. Though these companies charge about a tenth of what their American counterparts do, according to Christian Aid, the CPA allowed Iraqi companies to compete only for contracts of under 0,000, and not until this past April-eleven months after the authority took power and two months before it left.

With such questionable contract awards receiving little scrutiny from the Bush administration, the IAMB audit of the CPA is critical. But both Christian Aid and Iraq Revenue Watch have criticized the CPA for its slow pace in turning over financial reports to the IAMB. Though the United Nations elected to transfer operating authority over the DFI to the new Iraqi interim government and to extend the IAMB’s monitoring mandate past the June handover of sovereignty, Stuart Halford of Christian Aid told me via email that the extended mandate would mean little. “The CPA are not around to be held accountable for what they spent the money on, and they granted themselves immunity while they were there anyway.”

It’s unlikely that a proper audit based on full disclosure will ever be carried out. With the U.S. military occupying a country that is home to the world’s second largest quantity of known oil reserves, the potential for further corruption in the oil industry-friendly Bush administration is acute. As Halford told me via email: “Many people said this war was all about oil. Well, the CPA’s lack of proper accounting about Iraq’s oil revenue”-not to mention the long list of well-connected U.S. corporations to whom that revenue has been funneled-“certainly won’t dissuade many who follow that argument.”

Report this post as:

Local News

GUIDE TO REBEL CITY LOS ANGELES AVAILABLE A12 5:39PM

lausd whistle blower A10 11:58PM

Website Upgrade A10 3:02AM

Help KCET and UCLA identify 60s-70s Chicano images A04 1:02PM

UCLA Luskin: Casting Youth Justice in a Different Light A02 11:58AM

Change Links April 2018 A01 11:27AM

Nuclear Shutdown News March 2018 M31 6:57PM

Join The Protest Rally in Glendale on April 10, 2018! M29 7:00PM

Join The Protest Rally in Glendale on April 10, 2018! M29 6:38PM

Spring 2018 National Immigrant Solidarity Network News Alert! M19 2:02PM

Anti-Eviction Mapping Project Shows Shocking Eviction Trends in L.A. M16 5:40PM

Steve Mnuchin video at UCLA released M15 12:34AM

Actress and Philanthropist Tanna Frederick Hosts Project Save Our Surf Beach Clean Ups M06 12:10PM

After Being Told He's 'Full of Sh*t' at School Event, Mnuchin Demands UCLA Suppress Video M02 11:44AM

Resolution of the Rent Strike in Boyle Heights M01 6:28PM

What Big Brother Knows About You and What You Can Do About It M01 3:30PM

Step Up As LAPD Chief Charlie Beck Steps Down F14 2:44PM

Our House Grief Support Center Hosts 9th Annual Run For Hope, April 29 F13 12:51PM

Don’t let this LA County Probation Department overhaul proposal sit on the shelf F13 11:04AM

Echo Park Residents Sue LA Over Controversial Development F12 8:51AM

Former Signal Hill police officer pleads guilty in road-rage incident in Irvine F09 10:25PM

Calif. Police Accused of 'Collusion' With Neo-Nazis After Release of Court Documents F09 7:14PM

Center for the Study of Political Graphics exhibit on Police Abuse posters F07 9:50AM

City Agrees to Settle Lawsuit Claiming Pasadena Police Officer Had His Sister Falsely Arre F04 3:17PM

Professor's Study Highlights Health Risks of Urban Oil Drilling F04 12:42PM

Claims paid involving Pasadena Police Department 2014 to present F04 10:52AM

Pasadenans - get your license plate reader records from police F03 11:11PM

LA Times Homicide Report F03 1:57PM

More Local News...

Other/Breaking News

Xyloglossie attitudinale A23 8:07AM

Shadowgun Legends Hack and Cheats A23 7:24AM

What does the Quran Say About Islamic Dress?? A21 4:15PM

Biodiversité ou la nature privatisée A20 11:22AM

The Market is a Universal Totalitarian Religion A20 7:14AM

Book Available about Hispanics and US Civil War by National Park Service A19 5:52PM

The Shortwave Report 04/20/18 Listen Globally! A19 4:01PM

The Republican 'Prolife' Party Is the Party of War, Execution, and Bear Cub Murder A19 11:48AM

Neurogenèse involutive A18 9:21AM

Paraphysique de la dictature étatique A16 10:13AM

Book Review: "The New Bonapartists" A16 3:45AM

The West Must Take the First Steps to Russia A14 12:25PM

Théorie générale de la révolution ou hommage à feu Mikhaïl Bakounine A14 3:30AM

The Shortwave Report 04/13/18 Listen Globally! A12 3:50PM

“Lost in a Dream” Singing Competition Winner to Be Chosen on April 15 for ,000 Prize! A12 3:48PM

The World Dependent on Central Banks A12 4:43AM

Ohio Governor Race: Dennis Kucinich & Richard Cordray Run Against Mike DeWine A11 9:40PM

March 2018 Honduras Coup Again Update A10 10:52PM

Apologie du zadisme insurrectionnel A10 3:33PM

ICE contract with license plate reader company A10 1:14PM

Palimpseste sisyphéen A09 11:23PM

Black Portraiture(S) IV: The Color of Silence...Cuba No...Cambridge Yes A09 5:32AM

Prohibiting Micro-Second Betting on the Exchanges A09 4:18AM

Prosecutors treat Muslims harsher than non-Muslims for the same crimes A08 10:33PM

Amy Goodman interview on cell phone safety A08 10:29PM

Mesa, Arizona police officer kills unarmed white man A08 9:50PM

Israeli leaders should be prosecuted for war crimes A08 9:48PM

Paraphysique de l'autorité A08 12:11AM

More Breaking News...
© 2000-2018 Los Angeles Independent Media Center. Unless otherwise stated by the author, all content is free for non-commercial reuse, reprint, and rebroadcast, on the net and elsewhere. Opinions are those of the contributors and are not necessarily endorsed by the Los Angeles Independent Media Center. Running sf-active v0.9.4 Disclaimer | Privacy