Article

2005-09-05 Arabia

Kuwait Pledges $500M for Hurricane Relief

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Posted by Fred 2005-09-05 00:00|| || Front Page|| [8 views since 2007-05-07] Top

#1 What's that? About 1 barrel of oil?

Posted by Captain America 2005-09-05 00:15|| 2005-09-05 00:15|| Front Page Top

#2 This is very generous of Kuwait. It is more than all the other offers combined. In addition, Kuwait has only 1 million citizens (+ 1.3 foreign workers) which makes it a huge per capita contribution.

Posted by ed 2005-09-05 01:20|| 2005-09-05 01:20|| Front Page Top

#3 That's 4 days worth of oil production at current prices or about 1% of Kuwait's annual output. 1% of Uncle Sam's annual GDP is about $100B. Any which way you look at it, it's a pretty hefty slug of cash, for a country Kuwait's size.

Posted by Zhang Fei 2005-09-05 02:10|| http://timurileng.blogspot.com]">[http://timurileng.blogspot.com] 2005-09-05 02:10|| Front Page Top

#4 USA annual GDP is 12 trillion dollars, but it is a generous amount - $500 per Kuwaiti citizen.

Posted by phil_b 2005-09-05 02:17|| 2005-09-05 02:17|| Front Page Top

#5 Or $360 for just the New Orleans displaced! I'd take it, would pay my light bill!

Posted by smn 2005-09-05 04:42|| 2005-09-05 04:42|| Front Page Top

#6 Small Minded Numbat is back. I thought Rantburg didn't work for your recovery program.

Posted by phil_b 2005-09-05 07:41|| 2005-09-05 07:41|| Front Page Top

#7 I think this is wonderful. We start sounding greedy (for lack of better word here) for condemning the 'amount' offered.

Posted by Jan 2005-09-05 13:23|| 2005-09-05 13:23|| Front Page Top

#8 phil_b, I took Frank G's advice and took a hiatus from participating in the comments at Rantburg. I haven't stop reading the contributions from everyone else.

Posted by smn 2005-09-05 13:31|| 2005-09-05 13:31|| Front Page Top

#9 Compared to what?

Price of liberating Kuwait from Saddam -- priceless

Price of removing the Saddam regime for eternity -- priceless

The per day cost of upkeep of the Emir's aircraft fleet?

$500M is chicken feed for Kuwait.

Posted by Captain America 2005-09-05 13:57|| 2005-09-05 13:57|| Front Page Top

#10 They could keep that $500M, and if they have any spare capacity, increase oil production instead.

Posted by Rafael 2005-09-05 14:38|| 2005-09-05 14:38|| Front Page Top

#11 Captain America and Rafael, I think you miss the subtler points here.

First, this is a huge gesture and shames other Arabs whose hospitality is thus called into question.

Second, this sends a major signal to oil speculators, as it said very clearly that Kuwait would offset the loss of US oil production. And in fact that's one reason the price has fallen despite the fact that we don't have a lot of public info yet about the extent of destruction to platforms, rigs and the terminal.

Nicely done, Kuwait. Quite subtle and effective.

Posted by lotp 2005-09-05 14:52|| 2005-09-05 14:52|| Front Page Top

#12 As to the Arab shame issue, note that the Saudi's gave $5 million yesterday. The Kuwaitis may be trying to make a point in DC also.

The Sauds are looking sad.

Posted by Mrs. Davis 2005-09-05 15:03|| 2005-09-05 15:03|| Front Page Top

#13 Wasn't the Saudi contribution from a single refiner?

Posted by Shipman 2005-09-05 16:06|| 2005-09-05 16:06|| Front Page Top

#14 I wasn't trying to denigrate Kuwait's contribution, merely stating that they could probably better help out by increasing oil production. Though I don't think they have any spare production capacity.

Posted by Rafael 2005-09-05 16:08|| 2005-09-05 16:08|| Front Page Top

#15 They aren't increasing production, so far as I know, but the point is that their pledge is for crude oil and gasoline, not money, diverted to us rather than onto the market.

Posted by Omerens Omaigum2983 2005-09-05 16:18|| 2005-09-05 16:18|| Front Page Top

#16 Compared to what?

Price of liberating Kuwait from Saddam -- priceless

CA: Price of removing the Saddam regime for eternity -- priceless

The per day cost of upkeep of the Emir's aircraft fleet?

$500M is chicken feed for Kuwait.

We liberated most of Europe from the Nazis and the Soviets at the cost of half our annual GDP for 4 years and hundreds of thousands of dead GI's. 1% of the EU's economy is about $70B. Has the EU pledged $70B? $70B is chickenfeed for the EU. But they haven't exactly ponied up, have they?

Posted by Zhang Fei 2005-09-05 17:39|| http://timurileng.blogspot.com]">[http://timurileng.blogspot.com] 2005-09-05 17:39|| Front Page Top

#17 The other point not mentioned is that Kuwait, Saudi Arabia and Japan ponied up the cash for Desert Storm. The price we paid was under 200 lives. I think Kuwait's really stepping up to the plate.

Posted by Zhang Fei 2005-09-05 17:53|| http://timurileng.blogspot.com]">[http://timurileng.blogspot.com] 2005-09-05 17:53|| Front Page Top

#18 Beggers gleeful for table scraps. Attempting to legitimize the chum from Kuwait with the penis envy of Europe is a false argument.

Each should be compelled to give according to their means, even if it results in the Kuwaiti Emir having to feed his pets Almo for a day.

The Eurocrats have driven themselves into regressive economies. They can't afford anything other than bureaucracy.

Posted by Captain America 2005-09-05 19:20|| 2005-09-05 19:20|| Front Page Top

#19 Each should be compelled to give according to their means,

Er. Um. From each according to his ability, to each according to his need. Is that what you meant?

Posted by Jackal">Jackal 2005-09-05 20:22|| home.earthlink.net/~sleepyjackal/index.html]">[home.earthlink.net/~sleepyjackal/index.html] 2005-09-05 20:22|| Front Page Top

#20 Jackel -- sorry, translation service comes extra

Posted by Captain America 2005-09-05 21:50|| 2005-09-05 21:50|| Front Page Top

#21 Attempting to legitimize the chum from Kuwait with the penis envy of Europe is a false argument.
Each should be compelled to give according to their means

Captn America, don't mess with the eelpout or you'll end up with brown trout. Beware the credit expansion of the crusty cusk.

My daddy can piss farther than yours.

P.S. You still sound like a tool when you speak without translation.

Posted by asedwich">asedwich 2005-09-05 23:19|| 2005-09-05 23:19|| Front Page Top

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