Voice from the Commonwealth
Commentary, World Views and Occasional Rants from a small 'l' libertarian in Massachussetts

"If ye love wealth greater than liberty, the tranquility of servitude better than the animating contest for freedom, go home and leave us in peace. We seek not your council nor your arms. Crouch down and lick the hand that feeds you, and may posterity forget that ye were our countrymen." - Samuel Adams

Thursday, September 26, 2002

Nice to know that someone with vast knowledge of the oil industry agrees with what have said before. Unlike Afghanistan, reconstruction of a post-war Iraq would be much smoother and not a financial burden for the liberators (read:the US).

The notion that a war against Iraq might prove costly for the developed world because of the need to help rebuild the Middle Eastern nation once dictator Saddam Hussein is removed from power is unfounded, says energy expert and noted author Daniel Yergin.

Yergin told a September 25 panel, discussing the economic reconstruction of Iraq in a post-Saddam world, that Iraq's own oil "will play a large role, a very large role … [as] a very powerful facilitator of reconstruction." His comments were part of an all-day seminar titled "The Future of a Post-Saddam Iraq: A Blueprint for American Involvement," sponsored by the Heritage Foundation, a conservative Washington think tank.

Yergin told his audience that "Iraq would have no problem" paying for its development in a post-Saddam world. Once its production stepped up, he said, "it would be in a position to earn 20, 25, maybe 30 illion dollars a year from oil exports …[and] that's a lot of money or a country of 19 million people.

Who is Yergin?

...chairman of Cambridge Energy Associates, a consulting firm that analyzes oil trends worldwide for governments and international business clients. Yergin is also the Pulitzer-prize-winning author of "The Prize" -- a history of the last 100 years of the oil industry and its political, economic, and social effects on the modern world.

< email | 9/26/2002 10:04:00 PM | link

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