When will Iraq start paying for its own reconstruction?

By
Real Estate Agent with Windermere Real Estate - Palm Springs CalBRE# 01339266

Today CNN reported that Iraq is making windfall profits because of the high price of oil.

"Iraq is raking in more money from oil exports than it is spending, amassing a projected four-year budget surplus of up to $80 billion" U.S. auditors reported, according to CNN.

If Iraq is in fact making these huge profits, why aren't these profits being used to fund their own reconstruction program? And weren't we told by the Bush Administration that the war would be paid for by Iraq with it's own oil profits? Admittedly, that was said when the administration said the war was going to cost $80 Billion.

"We should not be paying for Iraqi projects while Iraqi oil revenues continue to pile up in the bank, including outrageous profits from $4-a-gallon gas prices in the U.S.," said Sen. Carl Levin, the chairman of the Senate Armed Services Committee.

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Groups:
Politics And Real Estate
Out Of The Box!
Almost Anything Goes
Dissent
Wrong Right Turn
Tags:
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Comments 10 New Comment

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Rainer
129,765
Rich Dansereau
Positive Real Estate Professionals

It is sickening to think how much we are spending in Iraq. I hope we can bring our soldiers home ASAP and let the Iraqis see to there own security and rebuilding. I am all for technical support and advice if the Iraqis want it; but that has to be at their request. Just my

August 06, 2008 09:18 PM
Rainer
149,339
Anthony Clark
Real Estate. It's About Lifestyle!
Clark Partners Realty Group

Our nation stormed in without invitation, without cause, without a real strategy and offered unlimited resources without holding them accountable.  Why would they offer to pay their own way now?  President Bush has really gotten us into a pickle.

August 06, 2008 09:56 PM
Rainmaker
475,888
Palm Springs Realtor Stewart Penn
Windermere Real Estate - Associate Broker
Windermere Real Estate - Palm Springs

Rich - I so agree with you.

Anthony - (Where have you been for the last few weeks?) - It's true, we broke it and now we are paying to fix it - but as I understood, Iraq was going to pay for it's own recontrsuction with oil revenues.

August 06, 2008 11:25 PM
Rainmaker
376,114
Eric Kodner
CRS, Madeline Island Realty, LaPointe, WI 54850 -
Madeline Island Realty

The answer may be quite simple.  Someone in charge wanted things to turn out this way.

August 07, 2008 12:01 AM
Rainer
38,874
John Guiney
e-PRO, CBR
Keller Williams Realty

Do you think that it has something to do with the fact that According to various sources, Bush has been awash in Saudi money for years. Journalist/author Craig Unger in his new book "House of Bush, House of Saud" traced millions "in investments and contracts that went from the Saudis over the past 20 years to companies in which the Bushes and their allies have had prominent positions - Harken Energy, Halliburton, and the Carlyle Group among them." According to the Boston Herald, that includes a $1 million gift from Prince Bandar to the Bush Presidential Library in Texas.

Or that Dick Cheney was the Former Chief Executive of Halliburton and is collecting 33.7 million from them as a retirement package?  Maybe Dwight Eisenhower had a good reason to be fearful of the Military Industrial Complex.

August 07, 2008 09:52 AM
Rainmaker
226,410
Don Davies, GRI "AshevilleRealEstateTrends.com"
"Realsearch" and Agent Referrals in Asheville NC
Don Davies Real Estate/REALSEARCH/Asheville, NC

Maybe they could start something called ActiveSands and get their people to write about the great experiences they have had since we got there, and especially about the wonderful lives they had before we got there.

Then we they do have some semblance of their clearly defined areas, counties, and cities, they could then start Civilizedism.com.

Then they could have off-shoot groups that talk about something off topic.

August 07, 2008 10:43 AM
Rainer
84,805
Rick Tourgee
Provincetown and Cape Cod
Robert Paul Properties, Inc.

I am right along with Anthony's comment that we are the ones who went their uninvited and tore apart their country......especially when we all wonder the true reasons why are there and whether we should have even attacked.

August 08, 2008 07:54 AM
Rainer
20,452
Jennifer Monastero
The Matchmaker

Stewart- I just got an update. Iraq is scheduled to start paying for their own reconstruction in 2013, around the same time that we will stop blowing the country up. Coincidence? I think not.

August 09, 2008 09:23 PM
Rainmaker
123,402
Tchaka Owen
Keller Williams Realty

Maybe they can hire mercenaries to fight against the current mercenaries in Iraq who lack a code of conduct.  A call to Executive Outcomes might be in order.

August 09, 2008 09:43 PM
Rainmaker
110,667
Jane Wallace
CRS | SRES, Denver Real Estate
ERA Herman Group Real Estate

I like Don's comment, very right on.

August 10, 2008 11:44 AM
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Rainmaker
475,888

Palm Springs Realtor Stewart Penn

Windermere Real Estate - Associate Broker
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