Sunday, March 1, 2009

Falling Oil Prices Stymie Iraq's Security Spending

From Yahoo News/AP:

BAGHDAD – Falling oil prices will force Iraq to cut back on military spending, leaving questions about whether it can handle tasks such as protecting oil platforms in the Gulf once the American pullout is complete, a top U.S. commander said.

Iraq's leaders now have to decide where the cuts will be deepest: arms, patrol boats or air power — all of which the country needs to create a fully functioning security force.

Read more ....

My Comment: They have enough oil in the ground to borrow money on it .... my suggestion .... borrow the money.

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