Sunday, April 13, 2003
Look What You Did!
Now you did it Georgie ole boy. You said you didn’t need no stinking UN! They are irrelevant! Right. You ignored the international community; well you got yourself in a pickle George, a real pickle.
Who Has To Pay For All This Again?
According to international law, the occupiers are responsible for rebuilding the country.
Sen. Dianne Feinstein, D-Calif., a member of the Senate Appropriations Committee. said it is crucial for the United States to help rebuild Iraq since it was U.S. weapons that did all of the damage. The U.S. broke it, the U.S. has to fix it.
She doesn’t buy the idea, that all the money is coming from oil revenues.
Ask the IMF to pay for Iraq rebuilding.
It seems your bud, U.S. Treasury Secretary John Snow is asking the 184-nation IMF, which specializes in helping crisis countries, and the World Bank, the largest source of development loans, to begin gathering the resources needed to rebuild Iraq.
Mr Snow from the US of A did not persuade his fellow ministers to outright forgive their Iraq debts. It seems like Iraq has to do the asking and there is no Iraq Finance minister anymore, oops There is no country recognized the UN. Sorry George, you went to war, without their approval.
Get The World To Forfeit Iraq’s Debt
The World’s bean counters said "it is important to address the debt issue", which will now be passed on to the informal group of official creditors known as the Paris club.
German Finance Minister Hans Eichel made it clear that Germany will be insisting on debt repayment and restructuring, not forgiveness.
"We do not only expect to get our money, we will get our money back," Mr Eichel told a press conference.
They are not the only ones that want the money that they are owed by Iraq, France and Russia as well as several other countries are owed billions of dollars too.
It will take a Security Council Resolution by the UN to get this done. That means France, Germany and Russia must support the resolution. Remember them, the “old Europe” Mr Rumsfield, the ones you called irrelevant and mis-guided.
Germany, Russia, France and other countries are owed $338 billion by Iraq, and they said they want their money.
Use Iraqi Oil To Pay For The Rebuilding Effort
So what you say, Iraq has gazzilions of barrels of oil that will pay for everything. That’s what Bush said. This might be a small problem. Iraq is sitting on foreign debts, compensation claims and unpaid contracts that total $383 billion, according to the Center for Strategic and International Studies in Washington.
Iraq Oil Math 101
First we have to fix the wells and the distribution system.
Their oil wells are in pretty bad shape and are being held together with bubble gum and duct tape. To get Iraq's oil production back to the 2.4 million barrels a day it pumped before the US-led invasion will require about $2.5 billion over at least six months
Estimated Oil Revenue
They pumped about $12.5 billion worth of oil last year, before the battle to free Iraq.
Estimated Food Cost For Iraq
Oil accounts for about 25 percent of Iraq's economy and almost all its export earnings. The revenue is needed to sustain basic economic functions and food.
Daily Oil Iraq Usage
The country uses 400 000 barrels a day. Some oil income is used to pay war reparations, which have totaled $16 billion since December 1996, according to the UN.
Iraq Oil For Humanitarian Relief
"There's going to be a lot of political pressure to put all of Iraq's money to work on humanitarian relief and reconstruction rather than reinvesting it in Iraq's oil industry," says Kenneth Katzman, an analyst for the Congressional Research Service. About 60 percent of the people in Iraq have been dependent on that aid, according to the United Nations -- a figure that's likely to increase because of millions of dollars in bombs we dropped in the country. This does not count the depleted uranium ammunition we shot all over the place, which will be a radioactive hazard cleanup for many years to come.
What’s Left Over?
Iraq's oil maths comes down to this: after domestic consumption, about 2 million barrels a day are left for export. It costs about $4 a barrel to produce Iraqi oil. With oil priced at about $25 a barrel, a new regime in Baghdad might net about $15 billion a year after the infrastructure has been rebuilt. It will take at least $2.5 billion and 6 months to begin to reach these figures. This does not take into account the time and money to find and maybe train new Iraqi workers to man the facilities and the docks. There are a couple of If’s here, so add about 3 more months to that estimate.
When Can The New Iraq Start Spending Oil Revenue?
Until a postwar government is established, the authority to manage Iraqi oil sales will be disputed. Right now there is No Iraqi government.
The US can’t manage the oil according to International law, the occupying power would be limited to overseeing day-to-day affairs and could NOT legally arrange longer- term oil contracts, according to the Associated Press. you will have to wait for the UN to recognize the country. Remember them, the mis-guided ones.
So, here are the things we want from the international community.
We want Iraq oil to pay for rebuilding Iraq. But Iraq has tons of debt to pay off first.
We want to be in charge of the reconstruction, with US companies, and shut out the UN countries in reconstruction, rebuilding efforts..
We want the IMF and the World Bank to help finance Iraq’s rebuilding effort.
We want France, Germany, and Russia to forgive $383 billions of dollars of Iraqi debts and unpaid legal claims.
Now, a lot of this is according to international law, and we know how much regard you have for that. Maybe you can come up with your own UN and your own World Bank, and ignore the money Iraq owes to other countries.
Dream on, Georgie Boy, you are in a pickle George, a real pickle! This is going to cost you! Ask them if they take American Express.
Now you did it Georgie ole boy. You said you didn’t need no stinking UN! They are irrelevant! Right. You ignored the international community; well you got yourself in a pickle George, a real pickle.
Who Has To Pay For All This Again?
According to international law, the occupiers are responsible for rebuilding the country.
Sen. Dianne Feinstein, D-Calif., a member of the Senate Appropriations Committee. said it is crucial for the United States to help rebuild Iraq since it was U.S. weapons that did all of the damage. The U.S. broke it, the U.S. has to fix it.
She doesn’t buy the idea, that all the money is coming from oil revenues.
Ask the IMF to pay for Iraq rebuilding.
It seems your bud, U.S. Treasury Secretary John Snow is asking the 184-nation IMF, which specializes in helping crisis countries, and the World Bank, the largest source of development loans, to begin gathering the resources needed to rebuild Iraq.
Mr Snow from the US of A did not persuade his fellow ministers to outright forgive their Iraq debts. It seems like Iraq has to do the asking and there is no Iraq Finance minister anymore, oops There is no country recognized the UN. Sorry George, you went to war, without their approval.
Get The World To Forfeit Iraq’s Debt
The World’s bean counters said "it is important to address the debt issue", which will now be passed on to the informal group of official creditors known as the Paris club.
German Finance Minister Hans Eichel made it clear that Germany will be insisting on debt repayment and restructuring, not forgiveness.
"We do not only expect to get our money, we will get our money back," Mr Eichel told a press conference.
They are not the only ones that want the money that they are owed by Iraq, France and Russia as well as several other countries are owed billions of dollars too.
It will take a Security Council Resolution by the UN to get this done. That means France, Germany and Russia must support the resolution. Remember them, the “old Europe” Mr Rumsfield, the ones you called irrelevant and mis-guided.
Germany, Russia, France and other countries are owed $338 billion by Iraq, and they said they want their money.
Use Iraqi Oil To Pay For The Rebuilding Effort
So what you say, Iraq has gazzilions of barrels of oil that will pay for everything. That’s what Bush said. This might be a small problem. Iraq is sitting on foreign debts, compensation claims and unpaid contracts that total $383 billion, according to the Center for Strategic and International Studies in Washington.
Iraq Oil Math 101
First we have to fix the wells and the distribution system.
Their oil wells are in pretty bad shape and are being held together with bubble gum and duct tape. To get Iraq's oil production back to the 2.4 million barrels a day it pumped before the US-led invasion will require about $2.5 billion over at least six months
Estimated Oil Revenue
They pumped about $12.5 billion worth of oil last year, before the battle to free Iraq.
Estimated Food Cost For Iraq
Oil accounts for about 25 percent of Iraq's economy and almost all its export earnings. The revenue is needed to sustain basic economic functions and food.
Daily Oil Iraq Usage
The country uses 400 000 barrels a day. Some oil income is used to pay war reparations, which have totaled $16 billion since December 1996, according to the UN.
Iraq Oil For Humanitarian Relief
"There's going to be a lot of political pressure to put all of Iraq's money to work on humanitarian relief and reconstruction rather than reinvesting it in Iraq's oil industry," says Kenneth Katzman, an analyst for the Congressional Research Service. About 60 percent of the people in Iraq have been dependent on that aid, according to the United Nations -- a figure that's likely to increase because of millions of dollars in bombs we dropped in the country. This does not count the depleted uranium ammunition we shot all over the place, which will be a radioactive hazard cleanup for many years to come.
What’s Left Over?
Iraq's oil maths comes down to this: after domestic consumption, about 2 million barrels a day are left for export. It costs about $4 a barrel to produce Iraqi oil. With oil priced at about $25 a barrel, a new regime in Baghdad might net about $15 billion a year after the infrastructure has been rebuilt. It will take at least $2.5 billion and 6 months to begin to reach these figures. This does not take into account the time and money to find and maybe train new Iraqi workers to man the facilities and the docks. There are a couple of If’s here, so add about 3 more months to that estimate.
When Can The New Iraq Start Spending Oil Revenue?
Until a postwar government is established, the authority to manage Iraqi oil sales will be disputed. Right now there is No Iraqi government.
The US can’t manage the oil according to International law, the occupying power would be limited to overseeing day-to-day affairs and could NOT legally arrange longer- term oil contracts, according to the Associated Press. you will have to wait for the UN to recognize the country. Remember them, the mis-guided ones.
So, here are the things we want from the international community.
We want Iraq oil to pay for rebuilding Iraq. But Iraq has tons of debt to pay off first.
We want to be in charge of the reconstruction, with US companies, and shut out the UN countries in reconstruction, rebuilding efforts..
We want the IMF and the World Bank to help finance Iraq’s rebuilding effort.
We want France, Germany, and Russia to forgive $383 billions of dollars of Iraqi debts and unpaid legal claims.
Now, a lot of this is according to international law, and we know how much regard you have for that. Maybe you can come up with your own UN and your own World Bank, and ignore the money Iraq owes to other countries.
Dream on, Georgie Boy, you are in a pickle George, a real pickle! This is going to cost you! Ask them if they take American Express.
# posted by Thomas @ 12:07 AM 
