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Iraq Found with $80 Billion Oil Surplus as U.S. Pours Money Into Reconstruction

By jonathanturley

As Congress contemplates cutting more programs and the deficit sours due to the costs of the Iraq and Afghanistan war, a U.S. audit has found that the Iraqi government is sitting on an estimated four-year $80 billion oil surplus. This surplus between 2005 and 2007 was $29 billion as U.S. funds poured into the country and [...]

Full post as published by Res ipsa loquitur on August 06, 2008 (boomark / email).