The Cost of Doing Business There Just Rose Dramatically

CNN's headline confirms the worst news for one of the Italian security guards being held as a hostage. The kidnappers are demanding an Italian troop withdrawal from the region, among other things, and are threatening to kill the other three.

This got me thinking about the reconstruction projects. Is there anyone who would risk doing business in what has to be about the most hostile environment imanginable? It turns out there are--$20 billion dollars is a lot of money. That said, I wouldn't bet on the rescheduled Expo going off exactly as planned, nor do I think these companies are seriously going to put any money into the country until the security situation is a whole lot better. I'll be scanning their fancy websites though.

Linking around, I managed to come across this website for the brand new Iraqi Ministry of Trade. Too bad I missed this, uh, good bit of news, I guess. They just passed a brand-new set of regulations designed to facilitate the export of scrap metal, going so far as to define the "product" itself:

“Scrap Metal” – is metal material that has been finished and put to use as a product or part of a product, but has lost its intended usefulness as a result of obsolescence, damage or destruction, excluding copper and lead . The Minister of Trade may further define what metals are permitted or prohibited from exportation through an announcement referencing this instruction and published in the Official Gazette.

There's no shortage of scrap metal in Iraq--it stands to reason there's a growing market in the stuff. It will be interesting to see, though, if they pass further regulations regarding scrap that's been contaminated by uranium dust. There's nothing in it as written, but I'll bet no one wants to be seen as just watching dirty bomb material get freighted-out, as it were.

Yeah, there's a LOT of money on the table for the reconstruction projects. Enough to perhaps provide SOME high-priced security. But there will always be the chance that a situation could get out of hand. And without a clear victory in the hearts and minds aspect of the war--which didn't happen--any westerners are in potential danger.

Yet another example of failed policy by Bush. He managed to tear Iraq apart, but doesn't have a clue as to how to put it back together.