Why Is The Iraqi Oil Reserve Not On Sale On The World Petroleum Market?
The finest crude oil available in mass quantities is from Saudi Arabia, Iran and Iraq. The ratio of ‘bunker fuel’ to Naptha is 60/40, whereas other fields are at 70/30. Naphtha is the source of gasoline as well as the base for medicines and other necessities. The ‘bunker fuel’ is the tar-like substance with limited uses. The cost to extracting, the 42 gallons which makes up a barrel of oil, is five dollars US in Iraq, the lowest in the world! Saudi Arabia’s extraction cost is ten dollars.
