The next new world power is IRAQ

Discussion in 'Chit Chat' started by bat1, Jul 6, 2008.

  1. bat1


    Iraq could easy be a richer country then the U.S
    when they start pumping oil.

    According to the US Energy Information Administration (EIA), "Iraq holds more than 112 billion barrels of oil - the world's second largest proven reserves. Iraq also contains 110 trillion cubic feet of natural gas, and is a focal point for regional and international security issues."

    Iraq's Oil Reserves: Untapped Potential
    While its proven oil reserves of 112 billion barrels ranks Iraq second in the work behind Saudi Arabia, EIA estimates that up to 90-percent of the county remains unexplored due to years of wars and sanctions. Unexplored regions of Iraq could yield an additional 100 billion barrels. Iraq's oil production costs are among the lowest in the world. However, only about 2,000 wells have been drilled in Iraq, compared to about 1 million wells in Texas alone.


    Report: United Arab Emirates cancels Iraqi debt

    ABU DHABI, United Arab Emirates - The United Arab Emirates canceled all its Iraqi debt Sunday and moved to restore a full diplomatic mission in Baghdad by naming a new ambassador.

    Is it time to invest in the IRAQI dinar?


    it's only at .10 cents to the U.S dollar right now
    once a few major contracts are completed it could double
    in value overnight.

    with the future of IRAQ bound to get better and at the price of oil
    only to go up I think it's a steal

    Exxon Mobil, Shell, Total and BP — the original partners in the Iraq Petroleum Company — along with Chevron and a number of smaller oil companies, are in talks with Iraq’s Oil Ministry for no-bid contracts to service Iraq’s largest fields, according to ministry officials, oil company officials and an American diplomat.

    read this:
  2. Kris


    A number of guys I know that were posted over there bought Iraqi Dinar a while back anticipating something like this.
  3. No country has became great only by natural resources, on the contrary, natural resources gives money to fuel dictators.
    Read: Saudi Arabia (still honoring a king), Iran, Iraq, Russia, Venezuela, Jordan, etc.

    Great resources combined with industry is what develops great countries.
  4. Don't buy that shit paper. That scam has been going on since the inception of the war. I remember being approached a few times about it. I haven't seen any sign that this currency will continue in the future. Crude oil is traded in dollars on the world stage. There's no way the US will allow Iraq to trade it in another currency. Why do you think we are there in the first place. Saddam didn't want to trade crude in dollars, just like Iran now pricing in Euros. The US needs that recycled money going back into the dollar so the government can continue to print money to keep expanding.
  5. skersey


    Actually this currency has outperformed the markets quite well since it was created.
  6. bat1


    Great resources? what do you think oil is?
    Saudi Arabia is one of the worlds richiest thanks to oil!
    and you say No country has become great by it?
    anyone in charge can be a dictator.

    Why is the U.S becoming a 3rd world country then?