WHAT! You want the owners of the oil to give it away for free??? Why!!!
and the 1/3 tax burden (severance and income) and re-compare.
You are trying to compare government military, welfare and everything else spending to the price of producing oil.
This is not an apples to oranges comparisons. You are trying to compare apples to submarines. Not related.
“WHAT! You want the owners of the oil to give it away for free??? Why!!”
Of course not.
The oft-quoted “price of production” numbers for Saudi remove the equivalent of royalty and taxation from the cost of production.
Obviously, both need to be added back in to make the numbers comparable.