Friday, August 18, 2006
There’s a lot of money to pay for this that doesn’t have to be U.S. taxpayer money, and it starts with the assets of the Iraqi people…and on a rough recollection, the oil revenues of that country could bring between $50 and $100 billion over the course of the next two or three years. … We’re dealing with a country that can really finance its own reconstruction, and relatively soon.
Iraq has doubled the money allocated for importing oil products in August and September to tackle the country’s worst fuel shortage since Saddam Hussein’s 2003 ouster, a senior Iraqi official said Thursday. Even though Iraq has the world’s third-largest proven oil reserves, it is forced to depend on imports because of an acute shortage of refined products such as gasoline, kerosene and cooking gas. Sabotage of pipelines by insurgents, corruption and aging refineries have been blamed.