Afghanistan Says Finds 1.8 Billion Barrel Oilfield
August 15th, 2010Via: Reuters:
Afghanistan said on Sunday it had discovered an oilfield with an estimated 1.8 billion barrels in the north of the war-ravaged country, where U.S. and other foreign forces are trying to tame a Taliban-led insurgency.
The discovery of the basin between northern Balkh and Shiberghan provinces was made after a survey conducted by Afghan and international geologists, said Jawad Omar, a spokesman for the ministry of mines.
Related: Afghan Mineral Deposits Actually Worth $3 Trillion, Not $1 Trillion
OK, I did a little math — checked it twice, but might have gotten it wrong (someone please verify). If I’m right, isn’t this the equivalent of 21 days of oil (world-wide), at today’s production rates of 85 million barrels per day?
1800000000 (1.8 billion)
divided by
85000000 (85 million barrels per day)
equals
21 days
Another mathematical analysis:
current price of oil: $75/barrel
cost to produce (according to this article, http://money.cnn.com/2007/11/05/news/companies/exxon_oil/index.htm, it’s max $25/barrel, but that was 2007, let’s say it’s 30): $30/barrel
profit: $45/barrel * 1.8 billion barrels = $81,000,000,000.
(One could argue that there are MUCH bigger costs associated with this oil, since the so-called “war” in Afghanistan is costing hundreds of billions at this point, but that doesn’t affect our friends in big oil, because we the taxpayers ponied up — and continue to pony up — for that.)
So we’re talking $81 billion worth of yachts, mansions, and private jets. Oh, and of course, lobbyists’ salaries. End of discussion.
How can anyone search for oil in a war zone???
MBerger47, the answer is: It’s not a war zone. It’s an occupation, with a few occupational hazards. What’s a few IEDs and some deaths of the “beloved” troops, when they really are just cannon fodder (or, in this case, expendable human shields for the military-industrial-oil complex’s continued plundering of resources, all in the name of “war”)?