Bush urges stronger NATO role in Iraq

CNN ^ | June 9, 2004 | Dana Bash, Gary Tuchman and Eric Phillips

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President Bush told world leaders at the G8 Summit in Georgia on Wednesday that he hopes NATO will take on a bigger role in Iraq now that the United Nations has endorsed the country's interim government.

"There's going to be some constraints, obviously," Bush said at the annual meeting of of the world's eight most industrialized nations on Sea Island. "A lot of NATO countries are not in a position to commit any more troops. We fully understand that."

"But I do think NATO ought to stay involved, and I think we have a good chance of getting that done," he said.

On Tuesday, the U.N. Security Council voted unanimously to endorse Iraq's interim government, which is scheduled to take power at midnight June 30, and gave authorization for a U.S.-led multinational force to stabilize the country. (Full story)

Several NATO members have contributed troops individually to the U.S.-led occupation of Iraq, and the alliance provides support for a Polish-led multinational division based south of Baghdad.

Leaders of G8 member nations Russia, France, Germany and Canada say, however, that the U.N. vote had not changed their minds about refusing to send troops to Iraq, according to The Associated Press.

Bush said he discussed the prospect of additional NATO involvement with his principal ally in the Iraq war, British Prime Minister Tony Blair, over breakfast Wednesday.

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Without question, the most effective way to motivate Iraqi citizens to support their new government is to offer them a real financial incentive as outined in the following proposal:

A Proposal : IRAQI CITIZENS’ OIL FUND

The following proposal submitted by the LAS AMERICAS COMPANIES is designed to win the minds and hearts of the Iraqi people through the annual distribution of a share of their nation’s oil resources. This is not a new idea, but rather one derived from the successful experience of the State of Alaska, which annually distributes a portion of the state’s’ income from oil production directly to its citizens. It stands to reason that Iraqis will vote their support of a government proposing to make each citizen a true partner in sharing the country’s oil riches.

1. The Alaska Permanent Fund

In 1976, voters in Alaska approved a constitutional amendment creating the Alaska Permanent Fund. It required that at least 25 percent of all mineral lease bonuses, royalties, and rentals be deposited in a fund used only for income-producing investments. At the urging of REPUBLICAN Governor Jay S. Hammond (1974-82), the state legislature enacted into law the innovative concept of establishing a permanent fund to distribute part of the state’s oil earnings directly to Alaska citizens as dividends.

The Alaska Permanent Fund is a case study in a new concept of the role of government - that of agent to equitably distribute resource rents to its citizens, thereby providing them with common heritage rights to land and natural resources.

After a court challenge, the Alaska legislature implemented the plan in early 1982. The Fund originally provided that any adult who had lived in Alaska at least six months was to receive dividends of $1,000. For future years, it promised annual dividends based on distribution of half the earnings of the permanent fund in any given year.

Alaska citizens who received a total of $18, 511 in dividends each year from 1982 - 2000. There were 582,105 citizens who received a total of $1,143,172,725 in dividends in the year 2000, which amounted to an individual dividend of $1963 per person. The Alaska Permanent Fund dividend payment in 2002 was $1540 per recipient, and $1107 in 2003. These payments provided an annual income of approximately $8,000 per household across the state.

Overall, the dividend program has dispersed more than $10 billion into the Alaskan economy. The principle of the Fund currently exceeds $26 billion. The Alaska Fund is the first to recognize the full rights of citizens to share directly in the income from public assets.

2. Proposed Iraqi Citizens' Oil Fund-

In 2004, Iraq's oil revenues, which have reached over $9 billion through April, are projected to total $15-20 billion (US), up from approximately $5 billion (US) in 2003. These revenues are expected to increase in successive years.

As in Alaska, an Iraqi Citizens' Oil Fund for the direct benefit of all citizens could be established by the new government. Citizens seeing the prospect of receiving money from their government, rather than paying money to it, are much more likely to be willing and enthusiastic supporters of the new authority.

Fortunately, Iraq has significant oil resources, which can be used to benefit all Iraqis. Currently, Iraq's per capita gross domestic product is $2,500. Under the prior government, average individual annual income was estimated to be less than $60 (US).

This proposal would give each Iraqi citizen a true stake in the economic foundation of newly established country. Each citizen could become a direct partner in Iraq’s economic and political future.

The Iraqi Citizen's Oil Fund would require that the principle of individual ownership be a primary hallmark of the new government. Citizens who are guaranteed economic power by the government will naturally support the newly established system. And, citizen-owners will be highly motivated to join together to devote their efforts to building their country’s future stability and prosperity.

The architects of the new Iraq have the power to replace the former government monopoly over natural resources with the Citizens’ Oil Fund providing all Iraqis a direct ownership stake in their country’s most valuable resource. Such a plan is in the best interest of Iraq and all Iraqis.

LAS AMERICAS COMPANIES 515 Madison Avenue Suite 2306 New York, New York Tel: 718-784-7786 Email: lasamericasinfo@email.com

Hector Llorens, Managing Director