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* 2012 US Budget: $6.2 billion requested for US Embassy in Baghdad

Source: Dinar Daddy’s Tidbits
URL: http://theiraqidinar.com/2011/07/03/2012-us-budget-6-2-billion-requested-for-us-embassy-in-baghdad/

$ 6.2 billion budget for the U.S. embassy in Baghdad in 2012

Posted 03/07/2011

BAGHDAD (AFP): The U.S. ambassador in Baghdad, said the request for the 2012 budget for the Embassy of $ 6.2 billion dollars, pointing to the importance of these funds to assist in the development of Iraq, the country’s main dam in the global needs in energy.

Plans to the U.S. Embassy in Baghdad, the largest embassy in the world, doubling the number of employees in 2012 to a 16-thousand employees, in order to take a number of tasks currently assigned to the soldiers of the 50 thousand Americans who are still in Iraq and Sagadrunh the end of this year.

Ambassador James Jeffrey, told reporters that “this country will increase its exports of oil. Now is to issue 2.3 million barrels a day, but this figure could rise to four million or six million barrels per day within four or five years.”

He explained that the money you requested is necessary because the increase in oil production in Iraq will not be on their own but require money, and that the oil installations of the country remains a target for insurgents.

“What other country in the world can believe that an extra two million barrels a day, but it has important impacts on the price of oil.”

The ambassador also said that Iraq could also be a very important source to supply Europe with natural gas.

“The only source which could provide enough of Europe, including to diversify its gas supply is Iraq, Azerbaijan, because the gas is not enough and must wait many years until the Turkmen gas is available.”

Iraq has one of the largest oil reserves in the world with 143 billion barrels, according to estimates of
Baghdad. It also has reserves of gas you put in ranked 11th globally in this area.

The U.S. ambassador said “Due to the importance of Iraq and due to the size of the investment that we have done in this country, the required amount (to balance the Embassy) is fully justified, completely.”

Said Jeffrey also said that the main concern on the stability of Iraq in the next phase comes from rebel groups loyal to Shiite Iran.

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