G_d doth have a humor in his placement of oil.
Y’know when I was over there I would see oil oozing out of the ground in places there wasn’t supposed to be any oil, like the center of the country. Then I looked at a map of the “known” fields of Iraq and noticed they’re all near the borders, i.e., close to transport systems out of the country. If/when the Iraqis get the S together they’re going to have a very wealthy country.
Don’t believe this, there isn’t enough oil left. I know it for a fact, I was told we are going to run out of oil by 1986. Jimmah doesn’t lie. Also, the more we use oil, the greater the chance that the earth will become unbalanced, spin off its axis, and we will all be doomed. It will be the end of mankind. s/
“The $1~2 a barrel is guaranteed profit AFTER all cost of exploration and production.”
The link below is an example of an Iraq Producing Oil Field Technical Service Contract:
http://www.iraqoilreport.com/blando/PFTSC.pdf
This is the earlier version, there are some changes in terms from this sample contract that more favor the oil company, but it is the most complete example I could find.
The discussed per barrel fee is the Renumeration Fee. The oil companies also recover capital costs and operational cost as detailed in article 19 starting on page 30 of 86.
bump