03/28/2008 02:46 am ET Updated May 25, 2011

Senate Seeking Audit Of Iraq Oil Money

Two senior members of the Senate Armed Services Committee have requested a full accounting of how Iraq is spending its soaring oil revenues, amid starkly conflicting estimates of how much the country has invested in rebuilding its broken infrastructure and providing basic services to its citizens.

The request, sent Friday to David M. Walker, the top official at the United States Government Accountability Office, estimates that Iraqi oil revenues could skyrocket above $56 billion in 2008, largely because of the rising price of oil.

Read more on New York Times