Hey Bush, where's all the Iraqi oil money that's supposed to goto the Iraqi people actually going?

And how come at least $1.5b of it went to Halliburton? Henry Waxman wants to know.

The DFI [Development Fund for Iraq] was set up after last year's invasion as the depository for Iraq's multi-billion-dollar oil revenues and was administered, until June 28, by the US-led Coalition Provisional Authority (CPA) - with notional UN oversight.

...Mr [Congressman Henry] Waxman is curious about "the [Bush] administration's last-minute 'draw-down' of billions of dollars from the DFI for unspecified expenses" prior to last month's transfer of sovereignty. "For example, $1bn [about £550m] was withdrawn from the DFI during the last month of the CPA's existence for unspecified 'security' purposes."

The administration provided no information about how these funds would be spent, Mr Waxman says, and has yet to do so. ...

He wants to know whether CPA officials obstructed the auditors, KPMG, who were employed by the UN-created International Advisory and Monitoring Board (IAMB).

And he also asks why the White House has "failed to comply with numerous IAMB requests [for information about] payments of approximately $1.5bn in DFI funds to Halliburton" - the Texas-based oil services company formerly headed by the vice-president, Dick Cheney.

Hmmm.. No corruption here. Nothing to see, folks, move along!

[Crossposted to Gotham City 13.]