We’re Lucky the Oil Paid for Everything
by matt at 6:00 am on January 31st, 2006 in Iraq War, RumsfeldDefense Secretary Donald Rumsfeld (Fall 2002):
“If you [worry about just] the cost, the money, Iraq is a very different situation from Afghanistan…Iraq has oil. They have financial resources.â€
Paul Wolfowitz at a Hearing of the Defense Subcommittee of the House Appropriations Committee, (3/27/03):
“There’s a lot of money to pay for this that doesn’t have to be U.S. taxpayer money, and it starts with the assets of the Iraqi people…and on a rough recollection, the oil revenues of that country could bring between $50 and $100 billion over the course of the next two or three years…We’re dealing with a country that can really finance its own reconstruction, and relatively soon.â€
Iraqi Oil Minister Resigns Amidst Protests
Iraq’s exports of oil hit their lowest level in December since the war, as the country’s oil minister resigned Monday [1/1/06] in the wake of protests and riots over soaring gas prices and lengthening lines at the pump.
Only 34.4 million barrels were exported in December, or about 1.1 million barrels per day — the lowest average since Iraq resumed exports after the U.S.-led invasion in March 2003
At least we’re making progress with our 2,238 lives lost, 17,000 wounded in action, $237 billion in war costs, and $18.4 billion in reconstruction funds.
Nick in Beantown wrote:
Has anyone asked the Iraqis if they want or plan to pay us back? Also, would you want to foot the bill for services provided against your will? After all, shortly after Saddam was toppled, the “Thanks, now go home” sentiment grew dramatically.
Posted 31 Jan 2006 at 7:48 am ¶
matt wrote:
Pay us back?
http://www.alertnet.org/thenews/newsdesk/N30324541.htm
no
Posted 31 Jan 2006 at 7:53 am ¶
Daniel wrote:
34.4 mil barrels/mo. * 30 mo.s = 1,032 mil barrels in 2.5 years
1,032 mil barrles * $50/barrel = $51.6 bil in 2.5 years
Since those numbers are based on pretty conservative figures (lowest month’s output & low price for crude barrels), Wolfowitz doesn’t seem that far off.
Posted 31 Jan 2006 at 8:05 am ¶
matt wrote:
far off from what?
Where’s that 51.6 billion? And how does 51.6 billion pay for a war that is running at $250 billion plus 6-7 billion/month?
Posted 31 Jan 2006 at 8:11 am ¶
Nick in Beantown wrote:
mmmmkay. That was March 2003. 3 years is this March and somehow the Iraq budget is still part of our ballooning deficits. Wolfowitz can do math. So what?
Posted 31 Jan 2006 at 8:14 am ¶