Fnu Lnu
Some people apparently have no idea how the oil business works. The originating price for oil is roughly $34 per barrel.
The rest of the price is involved in broker's fees, transportation, delivery, and holding. This is how the $34 base cost turns into $75 which is the current end cost of oil per barrel.
Now there is a "Dinar for Oil" program...China has International sanctions and part of that was their exclusion from the Iraq Dinar auctions, therefore, they sought to acquire Dinar from other sources like private Dinar owners. They wanted to be able to buy Iraqi oil...so they started offering private owners an enticing price...
They made contracts with private owners through intermediaries. That is the "Contract Rate", NOT $75 per dinar. The idea of $75 per Dinar is NOT reality based...
The UST put a halt to the contracting of Dinar as of October 2011. Unless you have a pre-2011 contract, YOU WILL NOT GET A CONTRACT RATE from the mythical REDEMPTION CENTERS...
