Word: bbl
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Dates: during 2000-2009
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Iraq is required to apply each month to the U.N. for approval of the price it charges for crude. But Iraq usually requests a number at least 50¢ per bbl. below the going price. Then Baghdad demands an illegal surcharge of, say, 30¢ per bbl. on top of the U.N.-approved price. The arrangement still gives buyers a 20¢ discount...
...30¢ kickback goes directly to Saddam after deposit in an Iraqi bank account in Jordan or some other location over which the U.N. has no control. During one 10-month period in 2000 and 2001, officials working with the U.N. determined that Iraq had successfully imposed a 30¢-per-bbl. surcharge, netting Saddam $175 million...
...NETS EVEN MORE FROM SMUGGLING OIL. This is the oil he secretly sells outside U.N. supervision--and he pockets all the revenue. Late last month U.N. officials reported that Iraq was smuggling huge, 1 million--bbl. shiploads of oil through the gulf. But most of it is carried by small craft or aging scows guided by experienced, radio-equipped Iraqis and is later sold in Iran, other gulf countries and onto the world market...
Then there's the pipeline from northern Iraq to the Turkish Mediterranean coast, which until recently exported up to hundreds of thousands of barrels a day of Iraqi crude, all of it outside the U.N.-sanctions system. Long dependent on Iraqi oil, Jordan illicitly imports some 110,000 bbl. a day, for which it pays a below-market price directly to the Iraqi government. Yet another pipeline runs from northern Iraq to Banias, a Syrian port, with a second outlet in Lebanon. It currently carries some 230,000 bbl. a day, generating annual revenue estimated at more than $1 billion...
...world's annual production, enough to run 40 standard 1,000-MW reactors for a year. That much uranium can satisfy fully 2% of the world's electricity demand--as much as would be provided by 140 million tons of coal (twice Canada's annual production) or 450 million bbl. of oil (more than twice Qatar's annual production). Cameco expects to take 585 million lbs. of uranium out of McArthur River during the next 25 years or so--not counting a second ore zone, not yet fully delineated, a few hundred feet west of the current mine. And that...