Lots of great info out there…principle based investing…Iraq is not going to take a 180.
Iran compared to Iraq. They are competing in the same oil.
Iran does not have as much oil as Iraq…that’s one of the scenarios you have to understand and look at.
The other is in order for Iran to pull out a barrel it’s $15…for Iraq it’s $6…there you go it’s half the price for Iraq to be able to do it.
So not only does Iran have not as much oil it cost more to take it out of the ground.
So they are not about to compete with Iran on that level and if they [Iran] do sell it on the Euro in the end it’s not going to mean anything…70% of the economy of the globe is running itself on the US dollar.
32% of the world’s economy is the United States.
One country 32% of the world’s economy.
70% of the currency used in trade around the globe because it’s internationally used [is the US dollar].
