As Bechtel Goes: the failure of Iraq reconstruction effort. (Source Paul Krugman, New York Times)
By Paul Krugman, published on the New York Times, 11 March 2006.
Abstract: Bechtel, the giant engineering company, is leaving Iraq. Its mission — to rebuild power, water and sewage plants — wasn’t accomplished: Baghdad received less than six hours a day of electricity last month, and much of Iraq’s population lives with untreated sewage and without clean water. But Bechtel, having received $2.3 billion of taxpayers’ money and having lost the lives of 52 employees, has come to the end of its last government contract.
As Bechtel goes, so goes the whole reconstruction effort. Whatever our leaders may say about their determination to stay the course complete the mission, when it comes to rebuilding Iraq they’ve already cut and run. The $21 billion allocated for reconstruction over the last three years has been spent, much of it on security rather than its intended purpose, and there’s no more money in the pipeline.
Read the full text: http://www.informationclearinghouse.info/article15490.htm