A major flaw in the administration numbers re the $87 billion.

[fizzana]

The administration lowered their revenue projections for Iraqi oil in 2004 from $16 billion to $12 billion. Currently revenue from oil is $0. Even if the oil was flowing the number being used was $7 million a day in revenues. That would extrapolate to about $2.5 billion a year, still $9.5 billion less than their lowered expectations for 2004.

Thus to attain their lowered expectations of $12 billion in oil revenue for 2004 they would have to (a) increase Iraq's capacity to pump oil by over 500% and (b) they will have to eliminate all sabotage to the pipelines. As the pipelines streches for hundreds of miles it will be impossible to prevent sabotage as long as their are insurgents operating in Iraq.

If things go really well they might be able to get $2-3 billion in oil revenues in 2004. This means that the $87 billion is not going to cover all what's needed.

The administration will therefore have to either shortchange Iraq or come back to Congress asking for more money halfway through next year.

[TreasonousBastard]

1. ummmm....

kinda figured they were going ask for more money anyway.