War for Oil? Not according to the math....

[Cool Texan]

Not to open a can of worms...but I ran across this site, and noticed something interesting:

http://www.eia.doe.gov/cabs/iraq.html

Iraq is producing around 2M barrels of oil per day. Currently, winning bids for exported oil are coming in around $2.70 to $3.30 per barrel. Assume a medial price of $3, and you have $6M per day in revenues coming from Iraq oil.

Some projects for the cost of the war are around $300B. That cost, divided by $6M per day, indicates that it would only take 50,000 days of oil production, assuimg the US held 100% of the oil, assuming 7 day per week production, and assuming no interest. 50,000 days divided by 365 is only 137 years. :shocked:

Anyway...just some fun with numbers for everyone. Regardless of your viewpoints, the article above is pretty interesting stuff.

[DanS]

I don't follow.........

[monoman]

CT

Check your pricing!

[finclipped]

If they are selling oil at $2.70 per barrel, I'll take some.

The confusion is here.

Bids for the Kirkuk oil reportedly ranged around $2.70-$3.30 per barrel below dated Brent (f.o.b. Ceyhan).

<font size="2" face="verdana,arial,helvetica">http://www.eia.doe.gov/emeu/internat...ces.html#Crude

[Hogback]

I guess if you have stock in the companys producing the 300B worth, have stock in the companys controlling the sale of the oil, mabey the math looks different. Who can say? All I know is I'm very thankfull to have been born and raised here and I support everyone we have over there. When I hear of one of our people getting killed it really makes me angry and sad. One thing my ol daddy usta say "figures don't lie but liars figure." I'm NOT refering to you CT. I have read some pretty amazing stuff in my time, I have not checked the price of oil lately but last I saw it was 13.00 or so, I may be wrong now I have been before I will be again.
Respectfully Randy
My folks are from Texas too and yes I voted for GW.

[Cool Texan]

Check my pricing? Read the article. I really dont know what the difference in prices is between the link I showed and Keta's. Keta, can you clarify?

[ 09-25-2003, 05:40 PM: Message edited by: Cool Texan ]

[monoman]

Todays Brent prices is about $26.50 per.

$26.50
- $3.30
=$23.20

So todays price is about $23.20 per barrel!