US | Iraq Iraq to Net Record $70B Oil Windfall Congress calls for aid cuts after revenue forecast doubles By Rob Quinn Posted Apr 30, 2008 2:58 AM CDT Copied An oil tanker, Patris, is seen docked next to Iraq's vital al-Basra oil terminal, in Persian Gulf waters, Wednesday, Feb. 27, 2008. (AP Photo/Kamran Jebreili) US analysts estimate that record-breaking oil prices and a fall in insurgent attacks on pipelines will boost Iraq oil revenue this year to $70 billion—double earlier estimates, the Wall Street Journal reports. The latest figure has sparked a call among US lawmakers to demand that Iraq pay more of its reconstruction costs. But the White House has warned that slashing aid could prolong the war. Read These Next RFK Jr. suggests antidepressants to blame after shooting. Isolated tribe members show up in an unexpected place. Details trickle out on 2 more victims of the Minneapolis shooting. Trump just used a spending maneuver last seen nearly 50 years ago. Report an error