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Profile: Gerald P. O'Driscoll

 
  

Positions that Gerald P. O'Driscoll has held:

  • Senior fellow at the Cato Institute
  • Vice president of the Federal Reserve Bank in Dallas
  • Vice president and director of policy analysis for Citigroup


 

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Gerald P. O'Driscoll actively participated in the following events:

 
  

September 25, 2002      Events Leading to Iraq Invasion

       In a paper titled, “The Road to Economic Prosperity for a Post-Saddam Iraq,” which is a part of the study, A Future of a Post-Saddam Iraq: A Blueprint for American Involvement, Ariel Cohen and Gerald P. O'Driscoll, argue for the implementation of neoliberal reforms including the privatization of Iraq's major industries. The document says that poverty in Iraq is a result of Saddam Hussein's mismanagement, namely Saddam's decision to nationalize certain industries; Iraq's war with Iran; the invasion of Kuwait; and Saddam's refusal to comply with the requirements for the suspension of UN sanctions. The paper's proposal for jumpstarting Iraq's economy focuses on privatization of Iraq's industries and several other neoliberal reforms. To complement this, the authors recommend using the “media and the educational system to explain the benefits of privatization and the changes to come in order to ensure broad public support.” The costs of reconstruction, they suggest, could be paid for with funds generated from the sale of Iraq's oil. “Iraq's vast oil reserves are more than ample to provide the funds needed to rebuild and boost economic growth,” the report says. [Observer, 11/3/02 Sources: The Road to Economic Prosperity for a Post-Saddam Iraq. Backgrounder #1594] But in order to generate this amount, the Cohen and Driscoll write, the post-Saddam government would probably have to reconsider its membership in the Organization of Petroleum Exporting Countries (OPEC) . “Following the demise of Saddam Hussein, it is unlikely that the Saudi kingdom would transfer a fraction of its production quota under the [OPEC] regime to Iraq to compensate for those lost profits and facilitate its rebuilding,” the authors note. “Iraq will need to ensure cash flow for reconstruction regardless of OPEC supply limitations. Combined with the potential privatization of the oil industry, such measures could provide incentive for Iraq to leave the OPEC cartel down the road, which would have long term, positive implications for global oil supply. ... An Iraq outside of OPEC would find available from its oil trade an ample cash flow for the country's rehabilitation.” [Sources: The Road to Economic Prosperity for a Post-Saddam Iraq. Backgrounder #1594] Cohen will later admit in an interview after the invasion of Iraq that his interest in Iraq withdrawing from OPEC was to destabilize Saudi Arabia (see (Early 2005)).
People and organizations involved: Gerald P. O'Driscoll, Ariel Cohen  Additional Info 
          

March 5, 2003      Events Leading to Iraq Invasion

       Ariel Cohen and Gerald P. O'Driscoll update their September 2002 paper titled, “The Road to Economic Prosperity for a Post-Saddam Iraq,” (see September 25, 2002) expanding the section which addresses plans for post-Saddam Iraq's oil industry. The update is apparently a reaction to the State Department's opposition to the neoconservatives' proposal to sell off Iraq's oil fields. They say that despite Secretary of State Colin Powell's remarks that the “oil of Iraq belongs to the Iraqi people.... [and] will not be exploited for the United States' own purpose....” the US should still provide “guidance to the future government of Iraq on establishing sound economic and trade policies to stimulate growth and recovery.” [Sources: The Road to Economic Prosperity for a Post-Saddam Iraq. Backgrounder #1633]
People and organizations involved: Gerald P. O'Driscoll, Ariel Cohen, Colin Powell
          

'Passive' participant in the following events:

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