Senate Committee Seeks Audit of Iraq Oil Money

Senate Committee Seeks Audit of Iraq Oil Money

www.nytimes.com

Two senior members of the Senate Armed Services Committee have requested a full accounting of how Iraq is spending its soaring oil revenue, amid starkly conflicting estimates of how much the country has invested in rebuilding its broken infrastructure and providing basic services to its citizens.

The request, sent Friday to David M. Walker, the top official at the United States Government Accountability Office, estimates that Iraqi oil revenue could skyrocket above $56 billion in 2008...

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Related News Links:
ap.google.com
www.upi.com
iraqoilreport.com
canadianpress.google.com

[edit on 3/9/08 by aecreate]

Despite the dire need for better health care, more electricity and clean water, a functioning sewage system and other services, the accountability office has previously estimated that Iraq spent only 22 percent of the oil money set aside for reconstruction in 2006. And in January, the office, which is charged with overseeing the Iraqi government’s finances, reported that Iraq had spent a meager 4.4 percent of its 2007 reconstruction budget by August of that year, the most recent figures available at the time.

Oh, really? So wait, let me get this straight..

As a result, the letter from the Armed Services Committee says, “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.”

This is what we're paying taxes for?

I want my money back! This isn't what I saw on TV!



www.upi.com
(visit the link for the full news article)

I feel for the innocent, their country being used for money.