Feeney and Moore on Iraq reconstruction:<Feeney and Moore on Iraq reconstruction: excerpts..
Iraq is not a poor country — at least not for long. It is a resource-rich country, with the highest levels of oil reserves of any nation in the world other than Saudi Arabia. With an estimated 100 billion barrels of known reserves, and probably much more than that is technologically recoverable from these rich desert fields, the discounted present value of the oilfields could easily approach $1 trillion. But these assets only have value once they are linked to a dependable infrastructure of roads, bridges, pipelines, and security.
This begs the question: Why should U.S. citizens have to pay one additional penny for this rebuilding when Americans have already paid tens of billions of dollars for the liberation of Iraq with a huge military operation and more preciously, thousands of our own soldiers' blood?..............
According to [Alexander Sack in 1927]: 'When a despotic regime contracts a debt, not for the needs or in the interests of the state, but rather to strengthen itself, to suppress a popular insurrection, etc, this debt is odious for the people of the entire state. This debt does not bind the nation; it is a debt of the regime, a personal debt contracted by the ruler, and consequently it falls with the demise of the regime.' Beginning to enforce this principle of odious debt would very rapidly defund and thus help topple other oppressive and dangerous tyrants around the globe. If France and Germany want to be repaid, they should start hunting down Saddam and his henchmen.
Americans put their lives at risk freeing Iraq. The French, Germans, and Russians not only sat on the sidelines but, inadvertently propped up Saddam by financing his purchases of arms, palaces, and oil infrastructure. It makes no sense to argue that they should get a claim on the new Iraq's assets before we do. For once in our history, Americans should not be forced to foot the bill for the war and the peace -- especially since the means to pay for both is right beneath the Iraqis feet........................
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