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Iraqi oil value

dinar_millions
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coldwarvet Newbie

coldwarvet

Posted
Posted

You can get a rough idea of Iraq's oil reserves from the numbers the OP quoted:

"$200 trillion value of world oil and gas reserves" times "The rest of the MENA region has the next largest share of global hydrocarbon reserves (23 percent), particularly in Iraq and Iran" equals $46 trillion as the value in the MENA region. Somehwere in that total is the value of Iraq's oil reserves.

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Luigi1 Grand Master

Luigi1

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Posted

Holy mackeral. That is a lot of doe ray me. Sounds like they are starting to let the cat out of the bag to show the powers to be that they can support an RV. JMHO. :rolleyes:

The powers that be set up the high price of energy to help Iraq pay for this RV. It's all part of the big picture.

In a way you can say we are paying for our own RV cash in every time we fill 'er up.

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caz1104 Newbie

caz1104

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The powers that be set up the high price of energy to help Iraq pay for this RV. It's all part of the big picture.

In a way you can say we are paying for our own RV cash in every time we fill 'er up.

If & when it RV's it will have been well worth it. Best to all

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truthful1 Newbie

truthful1

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Posted (edited)

Oil reserves arent used to calculate a currencies value. imports vs exports, balance of payments, gdp are the main factors. you can have all the oil, but until you pump it and export it its meaningless. gdp needs to increase and the economy will build itself and the value with gradually rise. Iraq has always had that oil, yet their currencys value is 1166:1. So if reeerves did have anything to do with it then the value would reflect that. when the economic laws are put in place and oil exports increase teurrency should start to reflect the economy. a currency is only as good as the government that backs it and the faith citizens and investors put in it. with iraq being one of the most corrupt nations and a lack of a unified government how much value do you really think exists

Edited by truthful1
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truthful1 Newbie

truthful1

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Posted (edited)

I don't think their rate as it is now and was had anything to do with their GPD. Just like China's rate is not reflective of their GPD. Iraq, has kept their rate where it is for a purpose, to stabilize the dinar. Anyway so they said.

Yes chinas currency is undervalued. we dont see them upping the rate to create wealth. the reason being is there are advantages to an undervalued currency. which is why imo iraq will come out low and increase with the economy. they have more to lose if they come out with a high rate. if theres a straight rv imo .10 cents or less at first.

iraq has left its currency where it is, is because of lack of development in the economy and economic laws. they have implemented legislation that will help a growing economy. if iraq moves on the rate before the economy supports it, they will fall on their face. thats why shabibbi hasnt moved. theyve said end of 2011 to delete the zeroes. shabibbi has been trying to get the restructuring done but the parliament and the goi have not responded with laws and regulation which support a strong emerging economy.

I meant to say they have NOT implemented. i couldnt edit the second go round.

Edited by truthful1
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keepmwlknfny Newbie

keepmwlknfny

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Posted

Oil reserves arent used to calculate a currencies value. imports vs exports, balance of payments, gdp are the main factors. you can have all the oil, but until you pump it and export it its meaningless. gdp needs to increase and the economy will build itself and the value with gradually rise. Iraq has always had that oil, yet their currencys value is 1166:1. So if reeerves did have anything to do with it then the value would reflect that. when the economic laws are put in place and oil exports increase teurrency should start to reflect the economy. a currency is only as good as the government that backs it and the faith citizens and investors put in it. with iraq being one of the most corrupt nations and a lack of a unified government how much value do you really think exists

YEPPERS!! Thank you for addressing the elephant in the room.....

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keepmwlknfny Newbie

keepmwlknfny

Posted
Posted

huh I don't see no elephant.....but I do see Lopster Rabbit! ;)

The elephant being that what truthful was talking about....how the amount of oil you have isn't what supports the value of the currency, but yet how much your producing and the profits or gdp that your pulling in.....

While iraq does have a lot of oil, they aren't the top producers of it either....it will change but that will be some time from now....further down the road from when the new currency is to come out...

;)

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GotSix Newbie

GotSix

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Posted

"how the amount of oil you have isn't what supports the value of the currency, but yet how much your producing and the profits or gdp that your pulling in"

exactly....and that's why most of us here have invested &/or are speculating.....cause now that they are a "free" country the potential is there....can't say the same for you...or can I :unsure::blink::huh:

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webup Newbie

webup

Posted
Posted (edited)

Are you kidding me!!!!! The technology to which you refer will not be ready to power this nation for another 20 -25 years. Wind mill power, doesn't work, Batteries in cars do not work; Solar panels on the top of buildings do not work. I had a friend who placed solar panels on his roof and his payback period exceeded 15 years. I don't disagree that we need to work on these technologies, however the government should not be involved. It should be funded by private dollars and not my tax dollars. Tell me this - Why hasn't the infrastructure for natural gas been built. It's cheaper, its cleaner and it exists in abundance for the next 350 years. Why is the current administration more worried about fixing roads and the internet. Why are we not spending dollars to build the infrastructure for natural gas?

Are you kidding ME?

Do you think that better technology is not already out there?

It has been for years but due to the amount of money tied up in oil industry the inventors of alternative energy and technology gets bought up by the rich oil giants so that their business model is not affected negatively.

If breakout technology gets passed the tyranny of these oil giants and became public domain then all the oil in the middle east becomes almost worthless and alternative energy goes mainstream.

Im not talking about home-mart solar panels and backyard fuel cells here, there is cutting edge technology for decades being suppressed and hidden from the public.

The stuff available to the public is the utter rubbish to let us think this is all there is.

I thought most people knew this already.

Edited by webup
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caper Newbie

caper

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Posted

Are you kidding ME?

Do you think that better technology is not already out there?

It has been for years but due to the amount of money tied up in oil industry the inventors of alternative energy and technology gets bought up by the rich oil giants so that their business model is not affected negatively.

If breakout technology gets passed the tyranny of these oil giants and became public domain then all the oil in the middle east becomes almost worthless and alternative energy goes mainstream.

Im not talking about home-mart solar panels and backyard fuel cells here, there is cutting edge technology for decades being suppressed and hidden from the public.

The stuff available to the public is the utter rubbish to let us think this is all there is.

I thought most people knew this already.

I knew it :D:rolleyes:

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AshInLA Newbie

AshInLA

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Posted

http://www.gcc-sg.org/eng/index.html

Isn't there a Bible verse indicating Iraq to "king" over these other nations?

Yes, Revelation 22:1-5 speaks of restoring Eden. The Garden of Eden lies in the Furtile Cresent between the Euphrates and the Tigris, which is where modern-day Iraq is. Baghdad is right near the Tigris perhaps that is the river mentioned in Rev. 22:2.

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AshInLA Newbie

AshInLA

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Posted

Isn't that Dinars?

Good point. I just re-read the article and no, it is USD. They are talking about a few different countries in the Middle East so they are speaking in a common trade currency. Plus the newspaper is out of Saudi Arabia not Iraq.

"As gas prices vary considerably between countries, unlike oil prices, QNB Capital assumed a gas price of about US$7.5 per thousand cubic feet, an average of US, European and Asian pipeline and liquefied natural gas (LNG) import prices."

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