Yahoo! News - Oil Experts See Long-Term Risks to Iraq Reserves: "A 2000 United Nations (news - web sites) report on the Kirkuk field said 'the possibility of irreversible damage to the reservoir of this supergiant field is now imminent.'
American officials acknowledge the underground problems, but figuring out how to address them is a quandary for the United States. The Bush administration and the Iraqis are banking on oil revenues to help pay for Iraq's reconstruction, and American officials say that aggressively managing the reservoirs is crucial to keeping oil and revenue flowing. But so far, American officials have steered clear of delving below ground, partly, they say, out of fear of adding to suspicion in the Arab world that the United States invaded Iraq to control its oil. "

Remember the assurances from Wolfowitz and others before Congress that Iraqi reconstruction would be financed from Iraqi oil sales? Turns out that this UN report from 2000-two years before his testimony, showed that the Iraqi oil fields were in bad shape. He should have known that they wouldn't be able to generate enough revenue from oil sales. And sure enough, they haven't been. Another deception, or another incompetent mistake? Either way, Wolfowitz should either resign or be sacked for gross incompetence and misleading congress and the american people. So should the entire administration in my opinion.
- posted by geoff @ #