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UAE to cancel Iraq's $7 billion debt

  2. Not_Doody
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So they want to pardon them in a way,

How will this affect oil prices I wonder.
Not_Doody

34 responses // UAE to cancel Iraq's $7 billion debt

  • http://current.com/items/89034989_big_oil_is_coming_to_...
    Could we speculate that this has something to do with those no bid oil contracts that are currently in negotiation?

    This certainly does sound like a bit of a deal sweetener doesn't it?

    All speculation of course.
    recommended by  huntre
    phillyharper
  • watch this comment being used here, here, here and here
    I think it has everything to do with the no bid oil contracts. It seems like everything our country is doing now, does.
    DennisJohnson
  • Maybe they did this on good faith. after all what happens in the region affects them all. think about it a healthy safe middle east would be a plus to the UAE in terms of more investments from foreigners and more tourists to the region considering they have the hottest up and coming tourist regions in the world for the moment.
    stone246
  • I am glad to see Iraq's Arab neighbors help them rebuild. Great decision by the U.A.E. Sadaam Hussein did enough damage and harm. It is time to move forward.
    mjsmith11
  • watch this comment being used here, here, here, here, here, and here
    I like to think of this as people helping other people. I hope there is no hidden agenda.
    MrBigShot21
    1 response to this
  • See... if we pull out now, they would be fine...We can't be in every country for the rest of existence just policing other people.
    huffamoose2k
    1 response to this
  • tell the UAE to go in iraq and stabilize the country where we can quit throwing money down that sinkhole
    TexasPatriot67
    2 responses to this
  • $7 billion is pocket change to them. It's a nice goodwill gesture nonetheless.
    damnneargenius
  • watch this comment being used here
    Now if we could only get the UAE to erase our debt!
    recommended by  huntre
    Rostam
  • LOL @ Rostam!! Great idea :-)

    Personally, I think oil prices have to do with the oil companies and refineries wanting to make high profits. We used to hear about the OPEC countries meeting to decide how much oil they'd pump and what the price would be -- have we heard about any such meetings in awhile now?? I haven't. I think it's in the total control of Big Oil, who wants to keep silent how they decide what oil prices are.

    ***The above is a totally uninformed, biased, paranoiac opinion lol
    shelchak
  • that's amazing, and the world bank and IMF refuse to cancel the impossible debts of developing nations
    tonality
  • the way things work in this world... scary.
    dazzleemdead
  • Good for them but being an american going through hell financially would like Iraq to pay us americans back.
    Who decided this would be a gift,the gift was fighting their civil war for those ingrates.One trillion dollars and counting,we should vote on this to many citizens are in need.This administration has made all bad decisions
    without the support of the people. Americans are caring
    people we come to the aid of everyone in need except our own. Pay us back with all that oil money!!!!!
    regularrf
    5 responses to this
  • Call me cynical, but it just seems too coincidental that all of this good will seems to be coming together right before the U. S. election. So, Bush and his clone, McCain, can claim that their policies actually work.
    Wreyeter
  • This whole thing stinks of covert cia actions...
    "Our biggest challenge is now the reconstruction and rehabilitation of the economic situation and to provide services to our citizens," al-Maliki said.
    Psychedelic
  • The goverment gets 25% of all oil money.Why dont iraq just pay us back in oil?Our goverment want have that to ever happen.Iraq was about a oil pipe line that the Bush,s and Chenny,s has sunk big money in.When american do wake up and tell the goverment we want pay another dollar in tax till we see that your spending it correct.One day i hope to see americans step up and take our goverment back.
    Americangreed
    1 response to this
  • The goverment gets 25% of all oil money.Why dont iraq just pay us back in oil?Our goverment want have that to ever happen.Iraq was about a oil pipe line that the Bush,s and Chenny,s has sunk big money in.When american do wake up and tell the goverment we want pay another dollar in tax till we see that your spending it correct.One day i hope to see americans step up and take our goverment back.
    Americangreed
  • If the United Arabs Emirates can cancel a $7Billion debt, would the IMF or World Bank be willing to turn the other cheek on the United States' multi-trillion dollar debt?
    poche
    2 responses to this
  • No suprise... This is all orchestrated...
    Ayahuasca2012
  • I have to type this with 1 hand while I hold my nose with the other. Hmmm. One Arab nation helping another in a BIG way & no hidden agenda with the backing of the U.S.? This is $7,000,000,000 of our hard earned cash being treated like monopoly money. The answer will be apparent if OPEC raises prices, knowing full well we’ll pay whatever they tell us to. Meanwhile, the U.S. gas consumer has been taken for a very expensive ride by our own gov't, who is in the back pocket of the oil cos. If not, U.S. oil prices won't rise any higher, particularly in an election year. Tell me why gas won't hit $5 a gallon by the end of the summer or $200 a barrel by the end of the year. Our oil suppliers & oil cos. have us over a barrel & they know all we're going to do is keep paying no matter how high the prices are.

    What more incentive do we need to accelerate the development & availability of alternative energy sources than this BS? Oil/gas prices are not coming down anytime soon. Our gov't would have been all over this when it hit $3 a gallon & they weren't because they're all in the same bed together, making a fortune off of the working middle class while our economy continues to spiral downward & out of control, literally falling into the hands & bank accounts of larger, developing countries who are in the process of owning us. Wake up people-this is the wrong time to be exchanging high fives & belly bumps. Our best interests haven’t been looked after for almost 8 years & deals like this prove it. If you really believe that this is encouraging economic stimulus & good will building to send Iraq on its merry way, you have been drinking too much of the coo-coo kool-aid. The U.S. will NEVER leave the Middle East as long as there’s still oil there.
    darkhorsejim
    1 response to this
  • Mmmm...it seems anyone who thinks this reasonable gets slamed here. Sad.
    rockon

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