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Bush Says Iraqi Oil Money Should Be Shared With People

Bush answers questions in the White House's Rose Garden on June 14 (epa) June 14, 2006 -- U.S. President George W. Bush said the new Iraqi government should set up a trust fund to share the country's oil money with its people.

He said Iraq's people need to enjoy the benefits of the country's oil revenue.

Iraq wants up to $20 billion in investment to boost its oil production to 6 million barrels per day.

On a related matter, U.S. Energy Secretary Samuel Bodman said Iraq needs to implement a new oil and natural gas law that lays out how energy firms can invest in the country.