- #1
pelastration
- 165
- 0
Next to the price of lives, the lost of credibility of US in the world ... there is more to come for the US tax payer and car owner.
The cost of the Iraq war: One year on
http://news.bbc.co.uk/2/hi/business/3603923.stm
By the end of this year, the US Government will have spent $150bn on invading and then rebuilding Iraq. That sounds like a lot - but the real question should be whether it is anywhere near enough.
The Bush administration was very clear about the need to invade Iraq - even though some of those reasons are now looking less convincing.
But it was far less straightforward about how much the military operation to unseat Saddam Hussein would cost.
(snip)
Oil price rise
Oil prices have risen steadily during the period of the war and are now higher than in many years.
Despite this, Opec has decided to cut oil production further, this time backed by Saudi Arabia, despite strong pressure from the US.
Could the instability in the region be influencing the other Middle East oil producers to try and keep prices high?
If so, this could cause the most economic damage of all, with developing countries the most vulnerable.
According to Professor Nordhaus, "there is the prospect that generalised anger with the US could spill over into use of the oil weapon in the near future".
---
The cost of the Iraq war: One year on
http://news.bbc.co.uk/2/hi/business/3603923.stm
By the end of this year, the US Government will have spent $150bn on invading and then rebuilding Iraq. That sounds like a lot - but the real question should be whether it is anywhere near enough.
The Bush administration was very clear about the need to invade Iraq - even though some of those reasons are now looking less convincing.
But it was far less straightforward about how much the military operation to unseat Saddam Hussein would cost.
(snip)
Oil price rise
Oil prices have risen steadily during the period of the war and are now higher than in many years.
Despite this, Opec has decided to cut oil production further, this time backed by Saudi Arabia, despite strong pressure from the US.
Could the instability in the region be influencing the other Middle East oil producers to try and keep prices high?
If so, this could cause the most economic damage of all, with developing countries the most vulnerable.
According to Professor Nordhaus, "there is the prospect that generalised anger with the US could spill over into use of the oil weapon in the near future".
---
