WEEKEND POST

The insurgency has had a devastating impact on Iraq's economy, with the oil industry suffering $6.25 billion in losses in 2005 as a result of sabotage to infrastructure and lost export revenues, Oil Ministry spokesman Assem Jihad said Saturday.

There were 186 attacks on Iraqi oil installations last year, during which insurgents killed 47 oil engineers, technicians and workers, as well as 100 police protecting pipelines and other oil facilities, Jihad said.

Most of the sabotage took place in the northern oil installations, preventing Iraq from exporting around 400,000 barrels a day from its northern oil fields via the Turkish port of Ceyhan.
Iraq produces around 2 million barrels per day from its southern and northern oil fields, down by about 800,000 from levels before the 2003 U.S.-led invasion.

Iraq's crude oil exports — almost all of which are now from the south — run at around 1.4 million barrels per day, also down about 800,000 from prewar levels.

Since Saddam's fall, insurgents have routinely attacked oil infrastructure in a bid to derail American-backed reconstruction efforts.

**Bush's "war for oil" has backfired. Oil before Iraq war was near $20, now near $60 up 3 fold! I knew the guy was a genius.

The laggard (DOW) is now the leader with a flow of funds seeking supposed SAFE MONEY investments in large caps tocks. As reported before the rise is coming with less than stellar buying power and breadth.

DELL another leader fell by the wayside as it slid to new 52 week low after warning of slower growth. INTC sits near 52 wk low also.

As we approach March, month of market top in 2000, it is possible history repeats.

D