Rebels' attack Iraq oil compound

[SOS]

Insurgents have broken into the headquarters of an Iraqi oil company in the southern city of Basra and set fire to warehouses and offices, reports say.

"It was not an accident. The fire is huge," a South Oil Company official told Reuters news agency.

Militants loyal to the cleric Moqtada Sadr had threatened to sabotage oil infrastructure in protest against the continuing clashes in Najaf.

About 90% of Iraq's oil exports go through Basra.

http://news.bbc.co.uk/2/hi/middle_east/3581552.stm

Little known fact: Many unemployed Iraqis are furious about Bremer's plan to sell all of Iraq's assets to western companies. They are vowing to burn down these businesses to the ground before allowing western corporations to take them.

[Nite Owl]

1. So little is being said about

the privitization of Iraq's assets. The people of Iraq have the right to decide what is best for them. It was like this little fact was just slipped in like they wouldn't notice.

[Ms. Clio]

2. Those damn anti-Iraq commies

And just who do those pinko Iraqis think should profit from the oil beneath their sand? The people who live on it??? Unnatural! Unthinkable!

[bluestateguy]

3. Oil prices could be at 50$ a barrell by next week

I guess we'll start hearing that old corporate media spin about how current prices are lower than 25 years ago "when adjusted for inflation", though that soundbite could someday become inoperable if events continue to run their course.

[TahitiNut]

6. Next week? I'm betting it could hit $50 tomorrow.

:shrug:

[Doctor Smith]

7. Could be $50/bbl by tomorrow.

It is still more than double the average price over the last century when adjusted for inflation.

[PATRICK]

4. Iraq's future

They have only to gain by retaining their oil until they become the last large reserve. And to gain by hard bargaining for more control of profits. And more to gain by crippling the oil guys that are stealing the
country. And less urgency for oil when they have little to lose now. The rest of the cartel must increase production. Unfree Iraqis can thumb their nose at their looting "benefactors".

Besides people who just want to forget and go along and the only temptation to Iraqis is to settle for only a piece of the action now.

It's a wonder the whole pipeline hasn't been taken out, but most people don't see such realities easily. Notably the US.

[Geo55]

5. Maybe they're just listenin' to their fearless liberator...

Fool me once , shame on ...shame on you...foolme...you can't get fooled again !