On the point of subverting ambition, I'd favor equal per capita payouts in the short term, ramping up to a full Social Security system over time--so that those who can work, do the laundry for the old folks, and everyone has a high standard of living.
But in the short run, you want a basic living for everyone--enough to keep body and soul together nationwide. That way, everyone would be free to get their act together and start up an actual economy. Certainly the oil $$$ should be a floor and not a ceiling.
All of those folks did something for a living under Saddam. If we simply re-establish order, a government and a banking system all could progress from there. At least it seems so to me.