Politics for Pros- moderated Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Politics for Pros- moderated

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

From: LindyBill	8/16/2005 8:53:30 PM
	Read Replies (1) of 793903

Three Bucks A Gallon May Save Iraq Austin Bay blog Someone tell Cindy Sheehan, Michael Moore, and the KosKidz to quit driving– en masse. The London Times reports: …Iraq still has good economic prospects, thanks to the high price of oil, the International Monetary Fund said yesterday. In its first assessment of the Iraqi economy in more than 25 years, the IMF reported that the interim Government needs to tackle chronic security and political problems if it hopes to rebuild the country. The cost of security and insurance cover swallows 30 to 50 per cent of reconstruction funds. One man’s irony will be another’s nifty conspiracy theory — a jack in oil prices rescues Baghdad. Every evening last summer I heard an update on Iraq’s economic struggle. Oil production and oil pipeline security were recurrent subjects, but agriculture received attention as well. Saddam restroyed Iraq’s thriving date palm industry. I’ve seen a series of recent reports that theft and looting in April 2003 damaged Iraq’s economic infrastructure. That may have occurred in some places– but Iraq’s oil industry suffered from long-term neglect. Maintenance was constantly deferred. The Times notes that a political agreement regarding oil revenues would be an economic plus: The outlook for the medium term is reasonably optimistic, but the security situation has to improve,” said Lorenzo Perez, a senior IMF official who headed the fund’s office in Baghdad until it was closed after the bombing of the United Nations building in Iraq two years ago. He said that the approval of the country’s postwar constitution, which is being debated, would be an important step in the political and economic development of Iraq. Iraq also needs to reduce government subsidies for fuel and basic food items, which are the highest in the world and account for a third of the country’s GDP. Read the whole report. austinbay.net

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next