Soaring oil priceswill leave the Iraqi government with a cumulative budget surplus of as much as $79 billion by year’s end [according to an American federal oversight agency]. From the NY Times...
But Iraq has spent only a minute fraction of that on reconstruction costs, which are now largely borne by the United States. The unspent windfall, which covers surpluses from oil sales since 2005, appears likely to reinforce growing debate about the approximately $48 billion in American taxpayer money devoted to rebuilding Iraq since the American-led invasion.
By one comparison, the United States has spent $23.2 billion in the critical areas of security, oil, electricity and water since the 2003 invasion, the report said. But from 2005 through April 2008, Iraq has spent just $3.9 billion on similar services.
Danz View:So, really, it is not about the oil, but Iraqi oil will pay for the war, and prices will go down, and everyone will be happy there in laa laa land, living free with lots of liberty and purple fingers to prove it?
SWAG:Not needed - the facts are clear, and they speak for themselves!