Militia Man
They're making nothing but money off their oil, but they're also making nothing but money off their non-oil revenue streams.
Now it's a totally different ball game.
Back in the old days Iraq's valuation of $3.22 was based off oil. It wasn't on phosphates...sulfur...liquid natural gas...tax revenues...tourism. None of those.
Add all that in now into the exchange rate gives some support doesn't it.
You start thinking about it, wait a second, so why would you come back out at $3.22 again?
Good question. Will they? Don't know. Is it likely they will? I don't know. Why would it be any less than that?
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