March 19, 2003
Who's in this for the Oil?
OIL LOSS HITS UN COFFERS
The United Nations is losing its only cash cow with the shutdown of Iraq's oil fields - profits of more than $300 million a year.
The UN has been taking a tidy gain acting as a partner for Iraq for the past 11 years to sell its embargoed oil in exchange for food and medical supplies.
"It was the only profitable thing at the UN," said one oil analyst. "It paid for a lot of programs and overhead there."[What the Iraqi oil didn't pay for, the U.S. did. What a scam!--J.T.]
[...]
Of all the oil sales handled through the UN, a total 72 percent went to the Security Council to allocate to Iraq and other humanitarian programs, said a UN source.
Another 25 percent of the oil cash went into the coffers of a compensation fund for Kuwaiti victims in the 1991 Gulf war. The UN's own in-house take for handling the oil sales contracts through a worldwide vendor network was 2.2 percent. The remaining 0.8 percent of the cash went to bankroll the UN weapons inspectors for the past several years, the UN source said.[I wondered where they got all that money, which Blix & Co. spent lavishly!--Jen]
"Everyone on the Security Council liked the arrangement because of the relief money it provided," said oil analyst Peter Beutel of Cameron, Hanover.
He said the UN also arranged for the purchase of food and pharmaceuticals with the oil money.
Well, praise the Lord for the pittance that actually went for humanitarian aid.
No wonder those weasels and their 3rd world enablers fought like wildcats to prevent us from enforcing Res. 1441!
This is institutionalized crime and we can only hope that our action on Iraq will surely make the UN irrelevant and will bring this to an end.
BTW, where did all this money go...???
