oil revenues

For Immediate Release

August 5, 2008

Contact:        Mark Bergman

                202-225-5206

Congressman Hodes Calls on Bush Administration to Answer Questions on Iraqi Oil Revenue

Concord, NH--- Congressman Paul Hodes today called on the Bush Administration to answer questions regarding a new Government Accountability Office (GAO) Report showing that the Iraqi government had produced nearly $90 billion in oil revenue from 2005 to 2007. From 2003 until 2007, the United States spent nearly $48 billion for Iraq’s reconstruction effort. GAO finds that Iraq has spent only 1% of total expenditures to maintain roads, bridges, vehicles, buildings, water and electricity installations, and weapons for security forces.