When will Iraq start paying for its own reconstruction?

Real Estate Agent with Bennion Deville Homes 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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Rich Dansereau
Positive Real Estate Professionals - Knoxville, TN

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

Aug 06, 2008 02:18 PM #1
Anthony Clark
Clark Partners - Fayetteville, AR
Real Estate. It's About Lifestyle!

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.

Aug 06, 2008 02:56 PM #2
Palm Springs Realtor Stewart Penn
Bennion Deville Homes - Palm Springs, CA
Bennion Deville Homes - Broker Associate

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.

Aug 06, 2008 04:25 PM #3
Eric Kodner
Madeline Island Realty - La Pointe, WI
CRS, Madeline Island Realty, LaPointe, WI 54850 -

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

Aug 06, 2008 05:01 PM #4
John Guiney
Keller Williams Realty - Quincy, MA

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.

Aug 07, 2008 02:52 AM #5
ActiveRain City and State Listing Group
Christiansted, VI

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.

Aug 07, 2008 03:43 AM #6
Rick Tourgee
Robert Paul Properties, Inc. - Provincetown, MA
Provincetown and Cape Cod

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.

Aug 08, 2008 12:54 AM #7
Jennifer Monastero
New Milford, CT
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.

Aug 09, 2008 02:23 PM #8
Tchaka Owen
Galleria International Realty - Hollywood, FL

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.

Aug 09, 2008 02:43 PM #9
Jane Wallace
Shorewood Real Estate - Denver, CO
CRS | SRES, Denver Real Estate

I like Don's comment, very right on.

Aug 10, 2008 04:44 AM #10
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