Joseph Stiglitz, the Columbia University Professor and Nobel Prize winner in Economics, joined forces with Harvards Linda Bilmes to calculate the cost of Iraq. Stiglitz expounds:
"Our estimates are very conservative, and it could be that the final costs will be much higher. And it should be noted they do not include the costs of the conflict to either Iraq or the UK."His paper is available on his website (http://josephstiglitz.com/). Oil is expected to increase in cost in the future. Because of this the Army Core of Engineers says "oil wars are certainly not out of the question". The cost of a future oil war could very easily surpass the estimated cost $5-10 billion a year over 10 years for developing an alternative to oil and all know fossil fuels. And lets not forget our nuclear loving Iran. Just giving another reason to fight global warming.
Guardian Unlimited, Iraq war could cost US over $2 trillion, says Nobel prize-winning economist, Jamie Wilson in Washington, Saturday January 7, 2006
The Vancouver Sun: Get ready for oil supplies to dwindle, experts warn, Tuesday, January 16, 2007
Slate, Did We Just Declare War on Iran?Decoding this week's sound bites., Shmuel Rosner, Friday, Jan. 12, 2007, at 1:33 PM ET