ISIS, the jihadist group that’s declared a Caliphate on the ruins of western Iraq and eastern Syria, is now making roughly a million bucks per day by selling oil seized from Iraqi pipelines. Note also the Kurdish connection: no one’s pure in that part of the world.
Is a million dollars a day enough to sustain ISIS’s operations without dipping into its own reserves? Perhaps. There may be about 10,000 ISIS foot soldiers. Paying, feeding, clothing, and transporting that many men is expensive. But if each jihadist were getting a proportionate share of $100 a day, that still well exceeds the median Iraqi income of $15 a day, which probably helps with recruitment efforts.
That being said, such a rapid influx of money does not automatically translate into the ability to spend the money—either wisely or at all. Remember the movie “Brewster’s Millions” where Richard Pryor was challenged to spend $30 million in 30 days? It’s harder than it looks.
But it’s still ominous. From the Telegraph on July 11:
Iraq oil bonanza reaps $1 million a day for Islamic State
Exclusive: Islamic State strengthens grip on northern Iraq by raising millions from sale of oil through…
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