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Politics : Foreign Affairs Discussion Group

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To: Dayuhan who wrote (90521)	4/6/2003 5:05:10 PM
From: quehubo	of 281500

Ooops I made a rather large Sunday morning math error. Steven - It seems you have taken a firm grasp of energy issues. <<One way of looking at the savings in oil prices is the disappearance of the war premium. If over the last year we paid $5 a barrel more because added Iraqi risk to supply this totals about about $36,000,000 in savings for the USA and about $146,000,000 in total for the world.>> The USA consumes ~20,000,000 barrels per day and the world consumes roughly 78,000,000. By liberating Iraq we can in theory erase allot of the risk premium built into prices. This premium conservatively has averaged $5 a barrel. The totals 20 mbpd * $5 = $100 million a day, we should be able to pay the war costs off in a few years like this. Russia, and OPEC have been amply rewarded with this war premium, we should ask them to pay for the war.

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