Corruption In the Oil Industry (Situation in Alaska, UN Oil-for-food Essay

Corruption In the Oil Industry (Situation in Alaska, UN Oil-for-food Program) - Essay Exampleoil back in December 1996, the Security Council allowed Iraq to deliver a supreme of $4 billion worth of oil each form wherein two-thirds of the profit will be utilize in the purchase of humanitarian goods and services. (Office of the Iraq Programme Oil-for-Food, 2007b) This value was eventually increased to $10.52 billion a year in 1998. Due to the huge demand for oil globally, the Security Council removed the export limit in December 1999. Despite the huge amount of money that is expected to be collected from this course of study, the United States political relation Accountability Office (GAO) reported that more than $67 billion of oil revenue has accumulated over-the-years precisely only $31 billion or less than 50% was spent on the humanitarian program in Iraq. (United States Government Accountability Office - Report to congressional Committees, 2006, p. 2)The Oil-for-Food program has been successful in achieving its primary(prenominal) objectives. As of March 2003, a lot of positive improvements with regards to the Iraqis socio-economic status were reported to obligate increased the living status of its local people. (Office of the Iraq Programme Oil-for-Food, 2007b) However, negative issues related to the oil subversive activity scandals committed to this program have been tremendously debatable for many years. (United States Government Accountability Office - Report to Congressional Committees, 2006 Asman, 2004)In line with the act of removing the export limit of oil under the Oil-for-Food program, the study will date the major causes and effects of oil corruption the well-known personalities who are directly and indirectly involved fuck the oil corruption scandals the negative impact of oil corruption to the local people in Iraq and the dominance and weaknesses of Alaskas regulation on oil corruption. At the end of the study, the researcher will dis cuss and notify several ways on how the government of Alaska could prevent and minimize the negative impact of oil corruption among its