[lbo-talk] Voodoo economics, Iraqi version

mike larkin mike_larkin2001 at yahoo.com
Tue Sep 2 08:11:51 PDT 2003


from Iraq Democracy Watch: http://blogs.salon.com/0002515/

Per cent of Iraq's oil produced in the north: 40 - 50%

# of times critical northern oil pipeline sabotaged: 4

Amount for export contracted to BP and Shell: 645,000 bpd

Amount produced on average in southern oil fields for export: 645,000 bpd

Total production levels quoted on June 23rd: 800,000 bpd

Total production levels quoted on August 5th: 1.2 million bpd

How much oil officials are hoping for by EOY 2003: 2 million bpd

Iraq's pre-war oil production: 3 million bpd

Current oil revenue: $6 bn / year

Current estimates from Paul Bremer on total rebuilding costs: $100 billion

Estimates for rebuilding costs presented to the Senate Foreign Relations Committee in August, 2002: $100 billion

Cost of continued military occupation for two more years starting this week if current burn rate holds: $100 billion

How much $$ expected from upcoming fall donors' conference: not very much

Congressional Budget Office's revised estimates for the US deficit for 2004: $480 billion

Deficit adjusted to include costs for Iraq: well over $500 billion

Time frame within which we can expect deficits to raise interest rates and dampen the economy: scary thought

Time frame within which we can expect the jobless recovery to turn into a recovery with jobs: your best guess

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