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Politics : Foreign Affairs Discussion Group

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To: michael97123 who wrote (111921)	8/18/2003 6:48:47 PM
From: KyrosL	Read Replies (2) of 281500

The inability of Iraq to get its oil output anywhere near pre-war levels is seriously affecting oil prices, which are stuck above $30 for months now. The plan was that Iraq would be producing more than it did before the war, and that oil would be $20 or so by now. Lamentably, like most pre-war plans related to Iraq, events did not follow the plan. The difference between $30 and $20 oil means that it costs the US an extra $100 million per day for imported oil. So, the true costs of the war in Iraq are closer to $7 billion a month -- excluding the dead and injured GIs. It seems to me that Germany and Japan, who import all their oil (unlike the US), have a great economic interest to see Iraqi oil production restored ASAP, so my guess is that their gesture is not entirely altruistic.

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