Reconstruction Funds

The Iraqis have a lot of money. $120B to spend rebuilding their country, due to the record price of oil. Still, they’re pumping less oil than they were in the Saddam era.

It looks like the neocon plan of having Iraq finance its own reconstruction are finally coming true. Were they counting on $140/barrel oil to make it happen? Somehow I doubt they’d thought that much through.

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