Prometheus 6   

Another wrong estimate, my how ever could that have happened?

Report Offered Bleak Outlook About Iraq Oil
By JEFF GERTH

WASHINGTON, Oct. 4 -- The Bush administration's optimistic statements earlier this year that Iraq's oil wealth, not American taxpayers, would cover most of the cost of rebuilding Iraq were at odds with a bleaker assessment of a government task force secretly established last fall to study Iraq's oil industry, according to public records and government officials.

The task force, which was based at the Pentagon as part of the planning for the war, produced a book-length report that described the Iraqi oil industry as so badly damaged by a decade of trade embargoes that its production capacity had fallen by more than 25 percent, panel members have said.

Despite those findings, Deputy Defense Secretary Paul D. Wolfowitz told Congress during the war that "we are dealing with a country that can really finance its own reconstruction, and relatively soon."

Moreover, Vice President Dick Cheney said in April, on the day Baghdad fell, that Iraq's oil production could hit 3 million barrels a day by the end of the year, even though the task force had determined that Iraq was generating less than 2.4 million barrels a day before the war.

Now, as the Bush administration requests $20.3 billion from Congress for reconstruction next year, the chief reasons cited for the high price tag are sabotage of oil equipment -- and the poor state of oil infrastructure already documented by the task force.

"The problem is this," L. Paul Bremer III, the top civilian administrator in Iraq, asserted at a Senate hearing two weeks ago: "The oil infrastructure was severely run down over the last 20 years, and partly because of sanctions over the last decade."

Similarly, Bush administration officials announced earlier this year that Iraq's oil revenues would be $20 billion to $30 billion a year, which added to the impression that the aftermath of the war would place a minimal burden on the United States. Mr. Bremer now estimates that Iraq's total oil revenues from the last half of 2003 to 2005 will amount to $35 billion, running at a rate of about $14 billion a year.

The administration now plays down the report's findings.

The Bush administration's optimistic statements earlier this year that Iraq's oil wealth, not American taxpayers, would cover most of the cost of rebuilding Iraq were at odds with a bleaker assessment of a government task force secretly established last fall to study Iraq's oil industry, according to public records and government officials.

Could it be…another lie? Could it be…another denial?

YOU KNOW DAMN WELL THEY KNEW THW SPECIFIC FINDINGS!