Iraq accrues at least $100.0 billion in oil revenues in 2007 and 2008 – who is stealing that money? Is Saddam version 2.0 in power?
Priya Sen
Mar. 9, 2008

Why does Iraq need American taxpayers’ money at this difficukt times for its own reconstruction? In essence, Iraq will accrue more than $100.0 billion in oil revenues in 2007 and 2008. Why can Iraq not fund its own security and reconstruction. It has the second highest oil reserve in the world Aafter Saudis.

Carl Levin, D-Michigan, and John Warner, R-Virginia, said in their Friday letter to the Government Accountability Office that Iraq has "tremendous resources" in banks worldwide but is doing little to improve security and reconstruction efforts.

"We believe that it has been overwhelmingly U.S. taxpayer money that has funded Iraq reconstruction over the last five years, despite Iraq earning billions of dollars in oil revenue over that time period that have ended up in non-Iraqi banks," wrote the senators, who are their party's top members on the Armed Services Committee.

All fingers point to Iraqi politicians in power. They may be siphoning money into their Swiss Bank accounts on a regular basis. They may be Saddam version 2.0.

Iraq accrues at least $100.0 billion in oil revenues in 2007 and 2008 – who is stealing that money? Is Saddam version 2.0 in power?
Priya Sen
....it has been overwhelmingly U.S. taxpayer money that has funded Iraq reconstruction over the last five years, despite Iraq earning billions of dollars in oil revenue over that time period that have ended up in non-Iraqi banks...
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