Cliff Stearns: “Iraq's oil revenue is projected to be a record $70 billion this year, according to a report set to be released today…”

“Iraq's oil revenue is projected to be a record $70 billion this year, according to a report set to be released today from the Special Inspector General for Iraq Reconstruction. The cost of Iraqi oil has skyrocketed in recent years up 250 percent since 2003. With these soaring oil revenues, the time is now for the Iraqi government to take greater responsibility for the security and reconstruction of their country and begin the process of weaning themselves off the largesse of the United States of America. Recently, Secretary of Defense, Robert Gates, announced that he was cutting $171 million in Pentagon funding for a police station construction in Iraq. This is a good first step towards ensuring that the Iraqi government understands that they need to show a real and sustained commitment to taking control of their country's destiny. By spending some of their record oil revenues, the Iraqis can send a definitive statement that they are serious about investing in their own future.”