Fox News: “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 Fox News.com.”
Opinion: While the US administration promotes a climate change hoax:
Canadian pipeline cancelled
onerous regulation for fracking
ramping up the war on coal
The terror group ISIS has the intelligence to know that oil is the lifeblood of the global economy, taking a page from Saddam Hussein:
“Control Mid East oil, Control the world.”