Zeev's Turnips Patch-No Politics (ZEEV)

[jdaasoc]

The take home story is somewhere large amounts of illegal Iraqi oil shipments ended up in US and Iraq received neatly wrapped $100 bills in exchange.

From NOV to FEB, unleaded gas in NJ was $1.39 up and down the block regardless of official OPEC price. Saddam kept pumping all the oil he could, US oil companies kept buying both in the legal oil for food UN program and through all the pipelines leading to all the squawking countries with money at stake to lose like Turkey, Syria and Jordan.

I am sure this retired US General running Iraq is going to be able to strike deals without competition with US oil companies to redirect Iraq's oil output.