Oil rage in iraq

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Last updated on August 3rd, 2017 at 10:13 am

It’s all about oil—and for good reason:

Violent demonstrations broke out across Iraq and the oil minister threatened to resign yesterday after the government raised the prices of gasoline and cooking fuel by up to nine times.

The Cabinet raised the prices of gasoline, diesel, kerosene and cooking gas on Sunday to curb a growing black market, Oil Ministry spokesman Assem Jihad said.

Now, I may not be a fancy big-city economist, but it seems to me that lowering the price may be a more effective means of curbing a black market (incidentally, the current price of petrol in Iraq, even after increases: 65 cents US per gallon). Also in Iraq, more than 1,000 missiles and rocketshave been discovered buried out north:

Commanders in the 101st Airborne Division said an Iraqi tipped them off to the buried weapons, perhaps an indication that residents in this largely Sunni Arab region about 150 miles north of Baghdad are beginning to warm up to coalition forces.

“The tide is turning,” said 2nd Lt. Patrick Vardaro, 23, of Norwood, Mass., a platoon leader in the division’s 187th Infantry Regiment. “It’s better to work with Americans than against us.”

When he isn’t digging up weapons, Vardaro co-authors books. Still time to buy for Christmas.

Posted by Tim B. on 12/21/2005 at 09:42 AM
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