From: John K Clark (jonkc@att.net)
Date: Mon May 12 2003 - 13:05:23 MDT
>>What do you mean it isn't "sustainable"? So far as I know, Iraq can
>>pump 900,000 - 3.5 million barrels or more a day at that cost level for
>>many years into the future. Iraq has some of the cheapest to access oil
> Can you quantify "many"? Is it more like 5, 25, or 125 years? This
> makes a significant difference.
Iraq is known to have at least 112.5 Billion barrels of oil in the ground,
this is probably a very conservative figure as there hasn't been any serious
oil exploration in that country in a quarter of a century, but even if
that's all there is I figure they could keep it up (3.5 million barrels a
day) for about a century. If they tripled that amount of production
the world would be flooded with cheap oil for at least 30 years;
I don't worry after that because by then other factors would come into play.
John K Clark jonkc@att.net
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