Everyone knows I don’t do date and rate but people [ask] what’s the season [approximate time]?
The reason people are asking me that…the reason that question has been so heavy lately is because you start looking at the price per barrel. It’s getting into that range where it’s a threat to Iraq. That means you guys are paying attention! That makes me so happy…
These guys are getting to the breaking point. Bingo…Thank God for us that we’ve invested in a currency that is Iraq’s weapon. That is their savior to add value to their currency. But it’s a two-pronged attack for Iraq.
They [Iraq] need to do two things with the oil prices going down. They need business and international investments coming into Iraq.
Well they’ve set that stage up for the last five or six years…and they haven’t stopped. They’re still trying to do it today…the other part is if they are not making money selling energy…what currency are they using to make money off that energy? The U.S. dollar.
If they are not bringing in any U.S. dollars that cuts them off at the knees, right? They need to add value to their currency. That’s exactly what they’re talking about.