I thought we were taking out their oil infrastructure? I guess not:
BUSINESS INSIDER – The Islamist State militant group now running a big chunk of northern Iraq and Syria is churning out more than $2 million worth of oil every day, or about $800 million per year, according to an analysis released by IHS.
Scarily, that’s far below the group’s potential output. IHS says Islamic State is probably only producing 50,000 barrels per day, but the territory it occupies is capable of producing 350,000.
It’s also selling the oil for less than $60 per barrel to smugglers, in comparison to an international price of more like $85 per barrel. If the group, previously called ISIS or ISIL, was producing at its full capacity and selling at market prices, it could rake in closer to $30 million every day.