Monday, June 07, 2004

Iraqis Paying 5 Cents a Gallon for Gas

AP reports that

Although Iraq is a major petroleum producer, the country has little capacity to refine its own gasoline. So the U.S. government pays about $1.50 a gallon to buy fuel in neighboring countries and deliver it to Iraqi stations. A three-month supply costs American taxpayers more than $500 million, not including the cost of military escorts to fend off attacks by Iraqi insurgents.
Finally, we've found a market for those old, fuel guzzling SUVs!