"Dorgan: Withdraw Iraq reconstruction money, invest in renewable energy."
In light of a recent GAO report revealing that the Iraqi government may have a $79 billion budget surplus by the end of the year, “Sen. Byron Dorgan (D-N.D.) said today that he wants $10 billion of U.S. funds that have been so far unpsent on Iraqi reconstruction rescinded,” the Politico reports. Dorgan has proposed using the funds to invest in renewable energy production:
Dorgan said he plans to introduce the Iraq Self-Sufficiency and American Energy Independence Act when Congress returns. The bill would transfer the unspent reconstruction funds to the Office of Energy Efficiency and Renewable Energy in the Department of Energy.
“Today, Americans are paying sky high prices for oil and gas, and at the same time the Bush Administration is continuing to spend billions of dollars a year for Iraq reconstruction even though that country has huge budget surpluses. That is a bankrupt strategy,” said Dorgan.