Iraq's oil-fueled surplus could hit $80 billion, report says

[AZhitman]

http://www.cnn.com/2008/POLITI....html

Thoughts on this?

I don't really know what to think without knowing all the implications... Anyone care to weigh in?

[szh]

I don't know for sure ... but from what little I know about this (was listening to a lengthy radio program about it, some days back), I think that Iraq must indeed use this money to help with the reconstruction!

One concern: the money needs to be used properly - without disappearing into pockets that do not deserve it (no matter whose!)

Z

[skylndrftr]

szh, totalyl agree with that.

There were some suggestions I heard today that this shold go back to America, I think thats ridiculous. Like it or not we're there riht now by choice. Its there money not ours despite us spending trillions there.

[szh]

Yes.

Spending their own money will help us to spend less though ... so it is a good thing.

But, note that my MBA wife would also say: "Money is fungible". So, the net effect is the same as if they had "paid us".

Z

[OriginalWheelman]

It will be interesting to see what happens to a new democracy with this much money to spend. Imagine fully funded schools, police, military, and civil services! Maybe we can recoup some of the war costs from them?

[skylndrftr]

"Money is fungible".

Wheelman, like I said in my post, I don't think they should be paying anythign back. This is somethign we undertook not as a money maker ... but as something that was 'good' for the world. Charity doesn't get paid back

[OriginalWheelman]

I would accept up to, and not above, the cost of the war from Iraq if they wanted to give it to us. I'm not saying we should demand it. Hell I'd take it in free oil.

[96Qowner]

Iraq's annual budget is $22 billion for 2009 and it's gonna have a surplus of $80 billion? Wow ... nice - almost 4 years worth.

I believe this war is being fought to keep Persian Gulf oil supply secure for the West, not to confiscate it. It's not unreasonable to have thought that the cost of the invasion and overthrow of the Baathists would have been paid for by Iraqi oil revenues. That horse didn't finish. What should have been a $50 billion cost is now over a trillion. That's $50 billion for 20 years - doable but not likely.

I think this is one of those subjects that the common man doesn't really have enough training or info to decide. Doesn't mean we can't have an opinion, but it's probably not going to be an informed opinion.

I know I don't like the idea of us spending our billions while they don't. Just seems so ... wrong. Dunno, maybe we could make the candidates squirm if we asked 'em. What are the cozy deals we're going to get in the future?

(Oh, and as far as corruption, count on it - it's part of the culture - it's how things get done in most parts of the world.)

[szh]

http://dictionary.reference.com/browse/fungible

Z

[heliochrome85]

including this one. See Sen. Ted Stevens R-AK, for an example.

[skylndrftr]

http://dictionary.reference.com/browse/fungibleZ

nice ...gonna have to whip that baby out in conversation sometime