Wm,
Iraq has 112 billion bbls of proven oil reserves, but many/most think that is a very low number due to lack of exploration:
eia.doe.gov
By my rough calculations that turns out to be about 5,000 bbls of oil per Iraqi. Kuwait, has 96.5 billion bbls, with 1/10th the population, or about 43,000 barrels per person.
Perhaps more on point, Saudi Arabia has 250 billion bbls of proven reserves with perhaps a trillion bbls actually there. If Iraq, in peace, has similar amounts, then the per person wealth of the Iraqi oil, at $30/bbl, would fall between $300,000 and $1.2 million PER PERSON.
Clearly, Iraq has wealth on a scale none of those folks in tin roof houses has ever experienced, although Saddam and his two boys (recently deceased) had a good taste of it.
Kb |
