1. Most Discussed
  2. Gainers & Losers

saddam set to explode oil fields?

  1. looney

    1,035 Posts.

    Explosives 'moved to Iraq oil fields'
    February 11, 2003

    IRAQI President Saddam Hussein was moving large amounts of explosives to the country's oil fields, in apparent preparations to destroy them in the case of a US-led military invasion, NBC News has reported.

    Citing unnamed military officials, the report said Iraqi companies had been purchasing the explosives and moving them to production areas in order, presumably, to set the fields ablaze.

    The Iraqis tried to make it appear the explosives were necessary to aid oil exploration, according to NBC News.

    But US intelligence officials believed the amount of the explosives far exceeded normal needs, the report said.

    In the event of war, the US military would try to secure Iraqi oil fields early in the operation, according to NBC News. But it was unlikely it would be able to get to all 1500 Iraqi oil wells in time.
    In 1991, retreating Iraqi troops blew up 730 oil wells in Kuwait, dealing a heavy blow to that country's economy. It took Kuwait eight months and $US40 billion ($67.97 billion) to put out the fires.

    Spokesmen from the Defence Department and the Central Intelligence Agency would not comment on the report.

    Agence France-Presse

Before making any financial decisions based on what you read, always consult an advisor or expert.

The HotCopper website is operated by Report Card Pty Ltd. Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, you should before acting on the information or advice, consider the appropriateness of the information or advice in relation to your objectives, financial situation or needs. Please be aware that any information posted on this site should not be considered to be financial product advice.

From time to time comments aimed at manipulating other investors may appear on these forums. Posters may post overly optimistic or pessimistic comments on particular stocks, in an attempt to influence other investors. It is not possible for management to moderate all posts so some misleading and inaccurate posts may still appear on these forums. If you do have serious concerns with a post or posts you should report a Terms of Use Violation (TOU) on the link above. Unless specifically stated persons posting on this site are NOT investment advisors and do NOT hold the necessary licence, or have any formal training, to give investment advice.


Thank you for visiting HotCopper

We have detected that you are running ad blocking software.

HotCopper relies on revenue generated from advertisers. Kindly disable your ad blocking software to return to the HotCopper website.

I understand, I have disabled my ad blocker. Let me in!

Need help? Click here for support.