The Scary Amount of Oil Money ISIS Makes Every Day

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Kelsey Harkness

President Obama, laying out his strategy last night to defeat the Islamist jihadists known as ISIS, stressed that “it will take time to eradicate a cancer” such as the terrorist group represents in the Middle East.

One hurdle in the way of Obama’s intention to work with allies to “degrade and ultimately destroy” ISIS (also known as ISIL and the Islamic State) is the brutal organization’s control of oil fields in Iraq and Syria.

ISIS uses that oil wealth to help finance its terror operations.

According to the Iraq Energy Institute, an independent, nonprofit policy organization focused on Iraq’s energy sector, the army of radical Islamists controls production of 30,000 barrels of oil a day in Iraq and 50,000 barrels in Syria.

By selling the oil on the black market at a discounted price of $40 per barrel (compared to about $93 per barrel in the free market), ISIS takes in $3.2 million a day.

Eric Bolling, a co-host of “The Five” on Fox News, cited these numbers on Tuesday’s show to explain “why we can’t wait” to counter ISIS.

The Daily Signal independently confirmed Bolling’s statistics with the Iraq Energy Institute.

James Phillips, veteran expert in Middle Eastern affairs at The Heritage Foundation, told The Daily Signal that the revenue gives ISIS a “solid economic base that sustains its continued expansion.”

The oil revenue, which amounts to nearly $100 million each month, allows ISIS to fund its military and terrorist attacks — and to attract more recruits from around the world, including America.

To be successful in counterterrorism efforts, Phillips said, the U.S. and its allies must “push the Islamic State out of the oil fields it has captured and disrupt its ability to smuggle the oil to foreign markets.”

Here’s how Phillips said the ISIS oil operation works:

ISIS sells oil to consumers in territory it controls, roughly the size of Maryland, inside Syria and Iraq. The terrorist group also sells oil to a network of smugglers that developed in the 1990s during Iraqi dictator Saddam Hussein’s rule; that network smuggled oil out of Iraq into Turkey to avoid sanctions imposed by the United Nations.

ISIS also reportedly sells oil, through middlemen, to the Assad regime in Syria that is trying to quell rebellion there. When it comes to making a fast buck, the Middle East has no shortage of “strange bedfellows” willing to do business with each other.

In his speech last night, Obama promised to “redouble” efforts to cut off the Islamic State’s funding.

If the U.S. and its allies are to succeed on that front, Phillips said, they should focus “intently on cutting the oil revenues that make up a large portion of that funding.”

Lost: 7 US Geo-gaffes that should worry us all

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Everyone makes mistakes. Freudian slips, misspellings, we forget things…we’re all human. Therefore when the world’s most powerful army wants to ‘help out’ but can’t quite remember where, it should be a cause for concern.

A top US official said on Wednesday – ahead of President Obama’s announcement of the strategy to be taken against the Islamic State terorrist group in Syria and Iraq, that “Saudi Arabia and Syria share an extensive border.” How do they plan to help the world fight terrorism…?

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Seems like ‘the Middle East’ exists as a name in order to skip over the boring details of its geography. “Syria is Iran’s route to the sea,” came the ominous warning from Presidential candidate Mitt Romney.

Greta Van Susteren reveals ‘weird’ WH arm-twisting to get Fox to back down on Benghazi reporting

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The White House asked host to tamp down Pentagon reporter Jennifer Griffin’s investigation of the Benghazi affair

by Bizpac Review | September 7, 2014

Fox News Channel host Greta Van Susteren told her viewers the White House asked her to tamp down Pentagon reporter Jennifer Griffin’s investigation of the Benghazi affair, which she could only describe as “weird.”

In her “Off the Record” segment on Friday, she reviewed how Fox News has been the only major news organization to fearlessly pursue the Obama administration’s stonewalling of the September 11, 2012 attack on America’s Libyan consulate and the deaths of four brave men.

After characterizing the quest for getting information as “pulling teeth,” and the Susan Rice/Obama sideshow blaming the YouTube video for provoking the assault, Van Susteren said, “A few weeks later, when Fox news reporter Jennifer Griffin said she was told there was a stand-down order at Benghazi, I got a weird call from the Obama administration trying to pressure me to get Jennifer to back down on her report.”

“I thought the call from the Obama administration was dirty,” she concluded. “Incidentally, I don’t control my colleagues and they don’t control me.”