Don't Blame Me, I Voted For Kerry Message Board

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Politics : Don't Blame Me, I Voted For Kerry

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To: Augustus Gloop who wrote (15325)	4/16/2004 2:28:07 PM
From: CalculatedRisk	Read Replies (2) of 81568

You write: "Their natural resources alone could pay for the building of infrastructure and a society of great wealth." Lets check the facts: Iraq Oil Production 2.45 million BBL per day. (OK, lets round up to 3 million BBL and assume it is all exported). At $35 per barrel, that is $38.3 Billion per year. Iraq has a population of 24.7 million people (according to the CIA factbook). A society of great wealth? That comes to $1500 per year per person. Don't feel bad. Paul Wolfowitz made the same mistake: dcnewspress.com Quoting: Deputy Defense Secretary Paul Wolfowitz told the House Appropriations Committee March 27 (2003) reconstruction could largely be covered by proceeds from Iraqi oil and foreign donations. "There's a lot of money to pay for this. It doesn't have to be U.S. taxpayer money. And it starts with the assets of the Iraqi people. They will now own those assets instead of a dictator that owns them, and they should spend them for their own welfare," Wolfowitz said. "We are dealing with a country that can really finance its own reconstruction and relatively soon." Two weeks later White House budget director Mitch Daniels told a reporter, "There's just no reason that this can't be an affordable endeavor." Andrew Natsios, the director of the U.S. Agency for International Development, put an even finer point on it April 23. He told ABC's Nightline "the American part of this will be $1.7 billion. We have no plans for any further-on funding for this." The remainder, Natsios said, would be paid with international contributions and from Iraq's oil wealth."

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