There are a ton of /8 still assigned to companies that don't need them. Ford, GE, IBM, AT&T (x2), Xerox, HP (x2), Apple, MIT, CSC, Eli Lilly, Nortel, Prudential Insurance, DuPont, Cap Debis, Merck, SITA. All of those can return their /8. That's 18 /8 potentially available. And does the DoD really need 12 /8's? I get that they want to network every person, gun, ship, tank, truck and plane. But none of those need to be…
Currently, the only reason the American registry still has any IP addresses left, is because their pool was separated from the emerging markets in Asia. As such, if IANA would start extracting IP address as suggested, the global market would eat it up faster than IANA could collect them. It would only "work" if IANA gave all the addresses exclusively to the American pool, working towards a local Internet rather than global.