US 'seeking billions' from Gulf states
Thursday November 20, 2008, 7:18 pm
The United States has asked four oil-rich Gulf states for close to $US290 billion ($A455.33 billion) to help it curb the global financial meltdown, Kuwait's daily Al-Seyassah reports.
Quoting "highly informed" sources, the daily said Washington has asked Saudi Arabia for $US120 billion ($A188.41 billion), the United Arab Emirates for $US70 billion ($A109.91 billion), Qatar for $US60 billion ($A94.21 billion) and was seeking $US40 billion ($A62.8 billion) from Kuwait.
Al-Seyassah said Washington sought the amount as "financial aid" to face the fallout of the financial crisis and help prevent its economy from sliding into a painful recession.
The daily said the United States plans to use the funds to help the ailing car industry, banks and other companies suffering from the global financial turmoil.
The four nations, all members of OPEC, produce together 14 million barrels of oil per day, around half of the cartel's production and about 17 per cent of world supplies.
The four states are estimated to have amassed close to $US1.5 trillion ($A2.36 trillion) in surplus in the past six years due to high oil prices that rocketed above $US147 in July before sliding to just above $US50.
The daily also said that the United States has asked Kuwait to forgive its Iraqi debt estimated at around $US16 billion ($A25.12 billion).
Aww... That last one is a hoot thoe heh.
Those damn cheam, comfortable, efficient and affordable asian cars!
For Rome!
