Analysis: Can Oil Pay for Iraq Reconstruction? By David Chance and Mona Megalli, Thu April 03, 2003 08:16 AM ET
Karen,
I must say that I couldn't careless what "debts" may be owed by Iraq. Let Iraq renege, if necessary. Much of Iraq's oil is in the South, which is mostly intact. There is much more to the North to be exploited, but the South can start working for the Iraqi people pretty quickly.
We should remember that Iraq was an economic basket case after the war with Iran. The Gulf war didn't help. The large cut of present production taken by the UN- 28% - didn't help many children.
On the other hand, neither did the oil revenue not taken by the UN.
If the UN delays the sale of oil in any way, we should take no notice. It is a matter of emergency to get food and water into the hands of these people and then we must continue the supply for as long as it takes. The Iraqis can pay for their own supplies with oil. That's good.
The French and Russians will no doubt insist on recovering their investments. We should remember that Saddam used any such money to buy arms from France and Russia. These have been his important suppliers. No doubt it continues.
The most significant impression of the whole picture I've received is that we are witnessing a country which is economically dead. The armies are fed and clothed, as are "Saddams Fidayi" and the other privileged groups.
But, we seem to be fighting a depressed society - unable to do much except cause us some trouble.
The most telling evidence of Saddam's demise seems to be the failure to destroy the oil fields and dams.
Or perhaps "Shock and Awe" worked on the upper hierarchy.
We'll know eventually I suppose.
Harry
****************************** Harry Pollard Henry George School of LA Box 655 Tujunga CA 91042 [EMAIL PROTECTED] Tel: (818) 352-4141 Fax: (818) 353-2242 *******************************
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