How much oil is in Iraq?

i was curious, to analyze how much money the us would stand to make off the oil in iraq if that is really what they are after, Take into account the 300 billion spent in the war.

It's not just the amount there, but the cost of getting it out of the ground and refining it.

Iraq's oil is close to the surface and under high pressure so it is very inexpensive to recover.

It is also of a very high quality which lowers the cost of refining it.


The other thing that must be considered when weighing the cost/benefit of the Iraq adventure is that the people who profit (Oil companies, Military/Industrial complex, Security agencies etc) are not the people paying the cost.

The cost is being laid squarely at the feet of the US taxpayer.

Basically, you pay and they profit.


...but I digress - here is what you were after....

In order to understand the magnitude of these profits, it is useful to know that the worldwide profits of the world’s five largest oil companies in 2002 were $35 billion. Our estimate of the “most probable” annual profits in Iraq are $95 billion, three times this sum! Total company profits in Iraq, over time, would be an enormously large sum – ranging from a low of about $600 billion to a high of about $9 trillion.

Source: The Iraq Oil Bonanza: Estimating Future Profits (http://www.globalpolicy.org/security/oil/2004/0128oilprofit.htm)

wow that doesnt look good for the U.S., when some people talk about the us going into iraq simply for the oil i wonder if it is even profitable for the U.S to do that considering the means, but i guess it is.

IRAQ has a lot of oil .. you see kuwait ?? A small country compared to IRAQ and most of kuwaitis are rich therefore I think iraq with oil plus democracy .. The people gonna be very rich .. I estimate that there will
be a lot of F-bodys over there ! :biggrin:

Nice Car on your sign man ! I liked it :cwm27:
what is your 1/4 mile best time ?