Cost of Iraq War to top $1.25 trillion dollars says academic
Rhett A. Butler, mongabay.com
September 20, 2005


The total cost of the Iraq War for the UK, the USA, Iraq and other nations is likely to top US$1.25 trillion dollars according to Keith Hartley, a professor at the University of York's Center for Defence Economics.

In a study released earlier this summer, Professor Hartley estimated the war's cost using official government figures and including the impact on world output caused by the surge in oil prices prompted by the conflict. Crude oil prices have risen from the $35 a barrel in April 2004 when hostilities began in Iraq to more than $70 a barrel last week in the aftermath of Hurricane Katrina.

Professor Hartley says the loss of world output due to the rise in oil prices up to 2010 will amount to $1 trillion, while the military cost to America alone will be more than $260 billion by the end of 2006. Britian's military share will top $7.5 billion.

Hartley suggests that it would have been more cost effective to simply pay former ruler Saddam Hussein to leave. "If, at the outset, the Americans anticipated the Iraq operation would cost $100 billion, they could have given Saddam Hussein and his family $20 billion to go, $50 billion to Iraq and still have had $30 billion left over," says Hartley.

You can read more of Hartley's comments in his June 22 press release


[an error occurred while processing this directive]


This article is adapted from an University of York press release. The contents do not necessarily reflect the views of mongabay.com.







News index | RSS | Add to MyYahoo!


Advertisements:


Organic Apparel from Patagonia | Insect-repelling clothing


MONGABAY.COM
Mongabay.com seeks to raise interest in and appreciation of wild lands and wildlife, while examining the impact of emerging trends in climate, technology, economics, and finance on conservation and development (more)

CONTENTS
Rainforests
Tropical Fish
News
Madagascar
Pictures
Kids' Site
Languages
Blog
Forum
Newsletter
About
Contact
Archives
Interns
Help


 
SUPPORT
Help support mongabay.com when you buy from Amazon.com

POPULAR PAGES
Rainforests
Rain forests
Amazon deforestation
Deforestation
Deforestation stats
Why rainforests matter
Saving rainforests
Deforestation stats
Rainforest canopy

News
Most popular
Worth saving?
Forest conservation
Earth Day
Poverty alleviation
Cell phones in Africa
Seniors helping Africa
Oil palm in rainforests
Extinction debate
Extinction crisis
Extinction debate
Palm Oil
Borneo
Orangutans in Borneo

News topics
Amazon
Biofuels
Brazil
Carbon Finance
Climate change
Deforestation
Energy
Happy-upbeat
Interviews
Oceans
Palm oil
Rainforests
Solutions
Wildlife




T-SHIRTS

  • Madagascar Wildlife
  • Dancing lemurs
  • Don't fall asleep the sloths will eat you
  • Sucking on this frog may make you insane


    CALENDARS

  • Mount Kenya
  • East Africa Safari Wildlife
  • Kenya's Turkana People
  • Peru
  • African Wildlife
  • Alaska
  • China
  • Madagascar Chameleons


    CANVAS BAGS

  • Hallucinogenic frog bag
  • Madagascar wildlife bag







  • Copyright mongabay 2007