The Financial Times is reporting that sabotage has nearly crippled the chance Iraq will be able to pump oil this year from the country’s northern pipeline. The pipeline was bombed this weekend for the fourth time in the past month. The U.S. had originally hoped to pay for the reconstruction of Iraq using oil revenue. Now the Bush administration is expected to go back to Congress to seek more money. Congress’s orginal allocation of $79 billion has nearly run out.
The Washington Post is also reporting today that the Bush administration is having great difficulty securing pledges of money from other countries to help rebuild Iraq.