Oct 31, ’14
By Pepe Escobar
Asia Times Online.com

Islamic State leader Caliph Ibrahim – aka Abu Bakr al-Baghdadi – never ceases to amaze us – and most of all his powerful petrodollar-stuffed backers. The Caliph is for all practical purposes now an oil major worth of membership of the Organization of the Petroleum Exporting Countries (OPEC). His takfiri/mercenary goons – in theory – have for some time been extracting, refining, shipping and/or smuggling and clinching juicy deals involving vast quantities of oil, reaping profits of roughly US$2 million a day.

The Caliph’s oil prices are to die (be beheaded?) for; after all, he’s implementing the same low-price strategy concocted by the people he wants to dethrone in Mecca, the House of Saud. The caliphate’s GDP across “Syraq” has only one way to go: up.

And oh, the irony Top customers for The Caliph’s cheap oil happen to be “Sultan” Recep Tayyip Erdogan’s Earthly paradise, aka Turkey – a North Atlantic Treaty Organization ally – and that King “Playstation” Abdullah II ibn al-Hussein’s domain impersonating a country, aka Jordan.

Meanwhile, the awesome, immensely sophisticated military apparatus/intel agency acronym fest deployed by “free” US/NATO somehow is simply unable to register/intercept this racket.

Not surprising, when they somehow had not previously registered/intercepted The Caliph’s goons taking over large swaths of “Syraq” this summer with their cross-desert version of rolling thunder – that gleaming white Toyota promo ad.

As for the Empire of Chaos “solution” to intercept The Caliph’s oil profits, the only decision so far has been to bomb oil pipelines that belong to the Syrian Arab Republic, that is, ultimately, the Syrian people.

Never underestimate the capacity of US President Barack Obama’s “Don’t Do Stupid Stuff” foreign policy doctrine to soar towards unreachable stupidity heights.

Read more