but I'd say we will end up back where we started this morning... So they, can then start the whole process, (rise and drop) all over again on Monday.... Unless the O & G law is decided this weekend ? then of course, it could just be a one way, "stairway to heaven" - fingers crossed, they actually do it :)
The United States has ramped up a campaign to squeeze the Islamic State’s astounding ability to get cash, a highly sophisticated moneymaking machine that has generated tens of millions of dollars since mid-June and made the group one of the world’s richest extremist forces, officials said on Thursday.
ISIL, as it is also known, has amassed a fortune through the sale of smuggled Iraqi oil, kidnappings for ransom, and extortion and crime in areas it controls. And unlike al-Qaida, external donations account for a relatively small amount of its cash flow.
“With the important exception of some state-sponsored terrorist organizations, ISIL is probably the best-funded terrorist organization we have confronted,” Treasury Undersecretary for Terrorism and Financial Intelligence David Cohen said on Thursday in a speech to a Washington,D.C., think tank. At a subsequent briefing at the White House, Cohen declined to provide an estimate of the group’s net worth today.
From mid-June until President Barack Obama unleashed airstrikes in Iraq and Syria against it, the Islamist organization scored $1 million per day from smuggled oil, Cohen said at the Carnegie Endowment for International Peace. He declined to say how much the airstrikes, which began on Sept. 23, have sliced into the group’s oil revenue.
The oil operation, which has drawn the most scrutiny, relies on long-standing smuggling networks operating in oil-rich parts of Iraq now under IS control. IS extracts the petroleum and sells it to smugglers, some of whom use “relatively sizeable tankers” to get it onto the black market.
At the official world market price of about $100 per barrel, IS at its peak would have been generating approximately 10,000 barrels. But Cohen said IS was selling “at substantially discounted prices,” the quantity was likely much greater.
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