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US Auditor Says Funding For Iraqi Rebuilding Should Cease WASHINGTON - Rising production and skyrocketing prices could more than double the Iraqi government's expected bonanza in oil revenue this year, leading a top U.S. government auditor to call for an end to American funding of Iraqi reconstruction projects. The Iraqi government had projected 2008 oil revenue of about $35 billion. But a U.S. report to be issued today by the special inspector general for Iraqi reconstruction will say that oil production in the second quarter of the year hit 2.43 million barrels per day, a post-invasion record.

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US Auditor Says Funding For Iraqi Rebuilding Should Cease

WASHINGTON - Rising production and skyrocketing prices could more than double the Iraqi government's expected bonanza in oil revenue this year, leading a top U.S. government auditor to call for an end to American funding of Iraqi reconstruction projects.

The Iraqi government had projected 2008 oil revenue of about $35 billion. But a U.S. report to be issued today by the special inspector general for Iraqi reconstruction will say that oil production in the second quarter of the year hit 2.43 million barrels per day, a post-invasion record.