US General Cautions Low Oil Prices a Threat to Iraq Pullout
Iraqi Govt's Budget Woes Could Derail US Pullout Strategy
Speaking to reporters today in Baghdad, US Lieutenant General Frank Helmick cautioned that the Iraqi government’s budget shortfalls were posing a major problem for the nation in trying to prepare for a poential US pullout.
Ironically enough for a war which dramatically increased the price of oil across the world, the budget problems in Iraq are chiefly a consequence of the global economic downturn’s deleterious effect on the price of oil, which has dropped precipitously from nearly $150 a barrel to around $70.
So amazingly enough, the US pullout strategy, nebulous though it is, may now be predicated on actually getting the price of oil to rise enough for the Iraqi government to fund its massive military expansion.
Iraqi officials had to revise their budget repeatedly over the course of the year as the price of oil dropped. Over 90% of the Iraqi government’s revenues come from oil exports.
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US General Cautions Low Oil Prices a Threat to Iraq Pullout … « Low price
October 1st, 2009 at 7:37 am
[...] Continued here: US General Cautions Low Oil Prices a Threat to Iraq Pullout … [...]
Henry_Clemens
October 1st, 2009 at 9:35 pm
"Low oil prices a threat to Iraq pullout?" Oh really? Would General Helmick feel better if the average American was paying $5.00 or $6.00 a gallon at the pump? That would all but guarantee that what is left of the American economy would be totally destroyed. Let me try to understand his thinking. The general is really saying that the only way the U.S. can pull out of Iraq is to put even more millions of Americans out of work. Makes perfect sense to me general. I guess those kind of ideas is what the American people pay guys like you the big bucks for. Gee, I wish I was a highly educated West Pointer.
Henry_Clemens
October 2nd, 2009 at 1:50 am
"Low oil prices a threat to Iraq pullout?" Oh really? Would General Helmick feel better if the average American was paying $5.00 or $6.00 a gallon at the pump? That would all but guarantee that what is left of the American economy would be totally destroyed. Let me try to understand his thinking. The General is really saying that the only way the U.S. can pull out of Iraq is to put even more millions of Americans out of work. Makes perfect sense to me, sir. I guess those kind of ideas is why the American people pay guys like you the big bucks. Gee, I wish I was a smart West Pointer too.