Zeev's Turnips Talk Politics (ZTTP)

[niteowl]

Just looking through this site....

"......The war with Iran left Iraq in ruins. When Saddam Hussein launched his eight year war against Iran, Iraq had $40 billion in hard currency reserves. But by the end of the war, his nation was $80 billion in debt. Iraq was pressed to repay the $80 billion to Kuwait and Saudi Arabia, with interest. While Iraq was distracted by its war, Kuwait had accumulated 900 square miles of Iraqi territory by advancing its border with Iraq northward. This was presented to Iraq as a fait accompli and it gave Kuwait access to the Rumaila oil field. The Kuwaiti Sheik had purchased the Santa Fe Drilling Corporation of Alhambra, California, for $2.3 billion and proceeded to use its slant drilling equipment to gain access to the Iraqi oil field....."

http://www.csun.edu/~vcmth00m/iraqkuwait.html