Thursday - August 21, 2014

And The End Approaches, Now Even Faster

Bloody marvelous.  And it’s been going on for months now.

Islamic State’s thirst for blood has the world on edge, but its equally insatiable yearning for oil could prove a “catastrophe” for the global economy if the terror organization isn’t stopped, experts say.

The jihadist group, formerly known as ISIS, now controls seven oil fields and two small refineries in northern Iraq, bringing in as much as $2 million per day by selling up to 40,000 barrels via middlemen in illicit deals. The black market oil sells for roughly $25 to $60 per barrel, compared to the current market rate of $102, according to Luay al-Khatteeb, founder and executive director of the Iraq Energy Institute. And while this is a veritable drop in the global bucket of oil production, the crude spigot will continue translating into terror funds for Islamic State militants if unchecked, al-Khatteeb and other experts told FoxNews.com.

“Unless we choke this organization’s revenues, and the areas it’s able to access revenues, it’s going to keep growing,” said Denise Natali, a senior research fellow for the Institute for National Strategic Studies. “The Iraqi government has announced it now, but this has been going on for months.”

A source close to the matter told London-based newspaper Asharq Al-Awsat that Islamic State is selling Iraqi oil to Kurdish traders in regions bordering Iraq, Iran and Syria before being shipped to Pakistan, where it’s being sold for less than half of market rates.

While production within those oil fields is globally insignificant, it does directly power the extremist group, offering the militants a degree of fiscal autonomy, according to al-Khatteeb.

“They’ve become very much self-sufficient,” he told FoxNews.com. “They control about 60 percent of Syria’s producing fields in its oil-rich eastern region. In Iraq, they control about seven oil-producing fields and two small refineries with a potential output of 80,000 barrels. And the black market is expanding into Turkey, which is becoming the main beneficiary of that market.”

Wait, so the very same Kurds that ISIS is busy shooting and beheading are the people buying up the illicit oil? Or are these Turkish Kurds, who - in a gesture of complete tribal solidarity - couldn’t give a rat’s ass about what happens to Iraqi Kurds on the other side of the mountain? But hey, all the oil - and the money - stays within the islamic world, so no harm, no foul. Right?

Funny thing ... back before Gulf War One, the hippie-dippy left was running around protesting “No blood for oil” when it came time to free Kuwait from occupation and enslavement. What will they say now, or next month, when the West will have to go in and destroy ISIS one goat humper at a time, and take back those oil fields in the process? Because if they don’t, the world will have an ever increasing, insane, psychopathic murder machine on it’s hands, funding themselves to the tune of half a billion or more per year.

Kind of makes me wonder ... do the muzzies really want to stop ISIS? Or is that just lip service to keep the stupid West sending in more aid, more supplies, and more weaponry. And they just sit back and let somebody else do the dirty jihad work for awhile. If the Caliphate wins, they win. (assuming that ISIS stops killing the locals and starts focusing on the West, as they seem to be starting to do?)

What if the entire civilized world went on a crash course to convert to natural gas, and from then on in only used petroleum to make plastics and synthetic rubber?

“Haha Infidels, the Caliphate controls all the oil in the Middle East! You will pay dearly now!!”
“Um, no thanks, sorry, we don’t want any of that stuff any more.”

Because I’m pretty sure there isn’t a single LNG plant anywhere over there. Not one. And the US, Canada, and the Soviet re-Union have oceans of the stuff. Maybe Brazil and Venezuela do too?

Posted by Drew458     on 08/21/2014 at 03:51 PM   
Filed Under: • Oil, Alternative Energy, and Gas Prices • War On Terror •  
• Comments (3) • Trackbacks(0)  Permalink •  

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