Everyone should read that Senate Intelligence report just to see how lame it is. In fact, at some points, it reads like an friggin' soap opera--he said, she said, blah, blah. And it does more to obfuscate than to clarify or answer any real questions.
Here's another good summary of why it was total horse shit (this is an informative diary, IMO, for various reasons):
~snip~
... some historical perspective is in order:
* In 1991, Iraq was discovered to have about 500 metric tons (~1 million lbs.) of yellowcake they'd 'forgotten' to mention. George Herbert Walker Bush, his coalition pals, and the International Atomic Energy Agency were so alarmed that Iraq had yellowcake, they decided to leave it in Iraq. The "prudent" course of action as they saw it: put it drums, seal it up, and check the seals once a year. They knew an entire year was not long enough for Hussein to make anything dangerous out of yellowcake. <3, .pdf>
* That yellowcake was inspected and remained untouched until Hussein barred the U.N. inspectors in late 1998.
* On Oct. 6, 2002, the CIA sent a fax to the White House that stated "the procurement is not particularly significant to Iraq's nuclear ambitions because the Iraqis already have a large stock of uranium oxide in their inventory. <4, para. 7, emphasis added>
* During Dec. 9-11, 2002, before Bush's SOTU claim that Iraq was trying to buy yellowcake from Africa, U.N. Inspectors verified that the yellowcake from 1991 was in Iraq, undisturbed, and still sealed.
~snip~
Repeated claims that Iraq tried to buy uranium from Niger, initiated and bolstered solely by the CIA's Directorate of Operations were irrelevant. The idea was never credible, never implied Iraq was re-starting their nuclear programs, and never taken seriously. Iraq had all the yellowcake it needed and 4 years to use it ('99-'02) -- they had no facilities to enrich uranium.
~snip~
And finally, yes finally, ask yourself who in the Bush administration during '02-'03 didn't understand the unspannable gap between yellowcake and a nuclear bomb:
* George W. Bush? Who's father left 500 mT of yellowcake in Hussein's possession?
...
~snip~
http://www.dailykos.com/storyonly/2005/10/24/182733/96