IsraPundit

WE'VE MOVED! IsraPundit has relocated to www.israpundit.com. Click here to go there now.
News and views on Israel, Zionism and the war on terrorism.

December 25, 2002

Did you know

apropos to the cost of the War

The US consumed 20 million barrels of oil per day in 2000.

This equals 7.3 billion barrels per year.

Assuming that with US control of Iraqi oil and increased production there, the price per barrel could stabilize at $2.00 less per barrel than otherwise. This would save the American economy $15 billion per year.

The losers would be the oil exporting nations and the winners the importing nations including the EU and Japan. One other loser would be the oil industry that profits from higher prices.

The US oil producers would not be able to compete as much because of its higher cost base. Therefore they will have to be compensated with oil leases in Iraq.

Think about it.