POLITICS
08/13/2008 05:12 am ET Updated May 25, 2011

Iraqi Budget Surplus Of $79 Billion Expected Thanks To Soaring Oil Prices

The soaring price of oil will leave the Iraqi government with a cumulative budget surplus of as much as $79 billion by year's end an American federal oversight agency has concluded in an analysis released on Tuesday.

The unspent windfall, which covers surpluses from oil sales from 2005 through 2008, appears likely to put an uncomfortable new focus on the approximately $48 billion in American taxpayer money devoted to rebuilding Iraq since the American-led invasion.

Read more on The New York Times