US | Iraq Iraq to Net Record $70B Oil Windfall Congress calls for aid cuts after revenue forecast doubles By Rob Quinn Posted Apr 30, 2008 2:58 AM CDT Copied An oil tanker, Patris, is seen docked next to Iraq's vital al-Basra oil terminal, in Persian Gulf waters, Wednesday, Feb. 27, 2008. (AP Photo/Kamran Jebreili) US analysts estimate that record-breaking oil prices and a fall in insurgent attacks on pipelines will boost Iraq oil revenue this year to $70 billion—double earlier estimates, the Wall Street Journal reports. The latest figure has sparked a call among US lawmakers to demand that Iraq pay more of its reconstruction costs. But the White House has warned that slashing aid could prolong the war. Read These Next A game of doorbell ditch turns fatal for 11-year-old. Is India, under hefty tariffs, turning away from the US? Guy accused of snatching hat from boy at US Open IDed as rich CEO. Robert Mueller's family makes a surprise revelation. Report an error