High oil prices giving Iraq up to $79 billion in surplus cash – International Herald Tribune
The soaring price of oil will leave the Iraqi government with a cumulative budget surplus of as much as $79 billion by the end of this year, a U.S. oversight agency has concluded in an analysis released Tuesday.
The unspent windfall, which covers surpluses from oil sales from 2005 through 2008, appears likely to put a new focus on the approximately $48 billion in U.S. taxpayer money devoted to rebuilding Iraq since the U.S.-led invasion.
The report from the oversight agency, the Government Accountability Office, estimates that Iraqi oil revenue from 2005 through the end of this year will amount to at least $156 billion. And in an odd financial twist, large amounts of that surplus money is sitting in a U.S. bank in New York – nearly $10 billion at the end of 2007, with more expected this year, when the accountability office estimates a skyrocketing surplus.
I hate to tell you this, but this will end up on our balance sheet. I see this as a good thing. They haven’t received our bill yet.
Found by Al Cole.
anD YOU wondered WHY the price of gas went up??
We pay for it in GAS and in TAX, and other nations that FUEL was sold to HELPED..
So. WHAT happened to the Fuel tax that was for USA ROADS and bridges??
IT WENT to pay for the war.
If this does end up on the US balance sheet then the US can expect no end of misery from the Middle East for the next 100 years. They have very, very long memories.
No way. Congress hasn’t balls enough.
It will end up in the pockets of the politicians and their friends and we will continue to pay their bills. How much US money just disappeared?
One nation under whiners.
Iraq Population: 27,499,638
Budget Surplus $79,000,000,000
Per Capita Income (2007) $3,600
The Iraqi gov’ment has the chance to buy some hearts and minds.
How will W screw this up.
He has screwed everything up he has had his hands on so far.
Under a T.. Whatever
“They haven’t received our bill yet.” Our bill…? For causing the deaths of tens of thousands of civlilians? Proper payment, presumably, would be a kick in the nuts…
#7…
Hmmm,
lets see…
Cits, pay taxs to war,
cits pay EXTRA money for gas, for war,
Gov cuts services Like water on Teflon, to PAY for war.
Gov pays Private agencies 10 times what our soldiers get, to protect WHAT??
War was started in Afghanistan..
WHAT the hell are we doing in IRAQ?? OIL.
How many times will we pay for this war? 4 times.
Yeah, and cast that against our war cost of (over) $1 *billion* per week (set outside our national debt figures) and you got a real healthy number.
http://zfacts.com/p/447.html
helluvaway to run a country.
Why are you asking this question here?!?
#3 god
Thats – Pelosi hasn’t balls enough.
Jeeez get it right dad
As long as that money is being funneled into rebuilding Iraq I say great. It doesn’t matter why America invaded Iraq, what matters are the 27 million people that deserve a better life than what they currently have.
A desperate person is much more likely to commit violent crimes against others as a means of survival than one who’s family has a roof over their heads and food in their stomachs.
Here’s what I want to know. If it’s still called “The National Debt”. Then how come it’s calculated against a percent of the GDP, and not GNP? Why did they change it from Gross National Product, to Gross Domestic Product? Another one of those Reagan/Bush ideas?
http://zfacts.com/p/318.html