The Watchdog

Keeping citizens in the loop

CLG REPORT: ‘breaking news (Libya) – The billion dollar war’? The billion dollar war?

Libyan campaign breaks Pentagon estimates costing U.S. taxpayers $2 million a day

–News came as donors pledged more than $1.3 billion dollars to help support Libya’s main opposition group 09 Jun 2011

The cost of the U.S. campaign in Libya is set to exceed the $750 million Pentagon estimate set out in March, according to a leaked Department of Defence Memo.

The ‘eyes-only’ DoD dossier said the U.S. had already spent $664 million in Libya by mid-May – a running cost of $60 million a month since the bombing began in March.

At the current rate of spending, the U.S. will have to shell out at least an extra $274 million till the end of the current 90 day no fly zone extension period – brining total expenditure to a minimum of $938 million.

Libya ‘rebels’ to receive huge cash infusion 09 Jun 2011

Western and Middle Eastern countries began opening the aid spigots Thursday for Libya’s beleaguered rebels [Western-backed mercenaries, fighting for Exxon Mobil], approving measures that will immediately send at least $1 billion to the opposition and promising much larger sums in the weeks ahead.

The cash infusion came as the Obama administration took a step toward officially recognizing Libya’s main rebel group, with the State Department declaring the Transitional National Council (TNC) “the legitimate interlocutor” for the Libyan people, even as Libyan leader Moammar Gaddafi clung to power.

Pentagon sees Libya military costs soar –US burning $2m a day to steal Libyan oil

09 Jun 2011 US military operations in Libya are on course to cost hundreds of millions of dollars more than the Pentagon estimated, according to figures obtained by the Financial Times…

According to a Pentagon memo which includes a detailed update on the progress and pace of operations, by mid-May US operations in Libya had cost $664m, a figure confirmed by the Department of Defence.

The document, entitled the “United States Contribution to Operation Unified Protector”, adds that US costs are running at a rate of about $2m a day or $60m a month.

Libya state TV says NATO helicopter shot down 10 Jun 2011 Libyan forces shot down a NATO helicopter in the sea off the coast of the town of Zlitan on Friday, Libyan state television said.

It quoted a military spokesman as saying it was the third aircraft to be shot down by Libyan forces since NATO began air strikes on Libya in March.

Goldman Sachs’ dealings with Libya under scrutiny 09 Jun 2011 Goldman Sachs Group Inc. and several other firms are being examined by U.S. regulators to see if they violated bribery laws when dealing with Libya’s sovereign-wealth fund, according a published report Thursday.

The Securities and Exchange Commission is looking into the firms’ relationships with the Libyan Investment Authority, the Wall Street Journal reported, citing people familiar with the matter.

The fund, controlled by Libyan leader Col. Moammar Gadhafi, attracted banks and securities firms when it launched in 2007 with $40 billion, the Journal reported.

June 12, 2011 Posted by | CLG REPORT:, Fighting corruption internationally, Human rights, Internationally significant information | Leave a comment