popular logistics

Greenspan says ‘We invaded Iraq for Oil!’

• Click Here For Fox News
• Here for FPIF,
• Here for Global Policy Forum,
• Here for Times Online UK,
• Here for BBC,
• Here for our friends Down Under,
• George Lakoff on the Huffington Post.

Well, now that the cat is out of the bag, lets do the math. Iraq, according to the Global Policy Forum, and the CIA , Iraq has 112.5 Billion Barrels of “proven reserves” of oil. At $80 per barrel … Iraq’s oil is worth $9.0 Trillion. We’re only spending $1 trillion, so it’s a pretty good return on investment. 900 percent return on investment for the 112.5 billion barrels of proven reserves.

And they said George W couldn’t do math.

And Iraq’s “probable reserves” are estimated to be another 200 billion barrels. If the “probable” reserves are only another 100 billion barrels - that’s 212.5 billion barrels of oil. Black Gold. Texas Tea. That ups the ante to 1,700% ROI. Why that’s better than Microsoft’s historic $3 thousand in 1986 worth $One Million in 1999.

Of course this is assuming we win the war. There are people who suggest that we have given Al Queda 9 to 17 Trillion Dollars worth of oil. Some people are just negative.