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Levin, Warner Ask GAO to Review Iraqi Oil Revenues and Reconstruction Funding

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News release, March 7, 2008: “Senate Armed Services Committee Chairman Carl Levin, D-Mich., and senior Committee Member John Warner, R-Va., today asked the Government Accountability Office (GAO) to review Iraqi oil revenues and determine how much money the Iraqi government has contributed to security and reconstruction efforts in the country. The senators voice concern that the Iraqi government has tremendous resources sitting in banks around the world while not doing nearly enough to improve the quality of life of Iraqi citizens…” The full text of Levin and Warner’s letter to the GAO is included in this news release.]

  • See also this New York Times article today: “The request…estimates that Iraqi oil revenues could skyrocket above $56 billion in 2008, largely because of the rising price of oil. This enormous influx of cash comes as the United States has been reducing spending on the reconstruction effort. Since the invasion in 2003, the United States has invested close to $50 billion in reconstruction, but the effort has achieved at best mixed results when measured by improvements in the lives of Iraqi citizens.”
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