Wednesday, November 03, 2004
Bin Laden's bankrupty policy - how much does oil cost per barrel from Iraq?
Bin Laden wants Spain, France, Germany etc out of the way - he wants to fight one war, one front. The war is against the USA, and the front is cash. The reason he voted for Bush the other day, is because he knows that Bush will go it alone, and keep the showdown personal. He wants America bankrupted. Simplicity, but at a cost. Back of the envelope figures:
It costs the US taxpayer $177 million per day to be in Iraq (source: only 70% reliable, as it comes from a Dove,Project Billboard)
My estimation of costs per barrel extraction in Iraq is $5 - this is based on the knowledge that it is generally below $5 in the middle east, but the danger factor has to push prices up a little.
Iraq is producing something in the region of 2.8m barrels per day, aiming to get above 3m next year (source: http://news.google.com/news?q=iraq%20bpd)
That makes $40 profit to be distributed amongst Exxon, Halliburton, and other random service companies, and then the Iraqi government.
That's a LOSS of over $50million per day. Perhaps a drop in the ocean for a trillion dollar economy - but nonetheless, a victory for Al Qaeda.
It looks like Osama is going to win. Can America carry on paying for military dictatorships around the world?
Others would argue that this is pointless because all the oil revenue just offsets some of the pillages from war, and the rest will come from racking up Iraqi public debt. But Bush doesn't care about the long term economics. He's in for 12 years, and he's gotta make the most of it. The debt will go to the American people. In 8 years from now, after Bush's 3rd re-election, both Osama and George will be sitting pretty.
Rumsfeld must be tossing a coin. Heads for Syria tails for Iran.
- July 2011
- December 2010
- November 2010
- October 2010
- October 2009
- July 2009
- March 2009
- February 2009
- January 2009
- December 2008
- October 2008
- September 2008
- August 2008
- July 2008
- June 2008
- May 2008
- April 2008
- March 2008
- December 2007
- October 2007
- September 2007
- August 2007
- July 2007
- June 2007
- March 2007
- February 2007
- December 2006
- November 2006
- October 2006
- September 2006
- August 2006
- July 2006
- June 2006
- May 2006
- April 2006
- March 2006
- February 2006
- January 2006
- December 2005
- November 2005
- October 2005
- September 2005
- August 2005
- July 2005
- June 2005
- May 2005
- April 2005
- March 2005
- February 2005
- January 2005
- December 2004
- November 2004
- October 2004
- September 2004
- August 2004
- July 2004
- June 2004
- May 2004
- April 2004
- March 2004