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Trump may have given Iran a $500 bln money spinner
(www.reuters.com)
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this post was submitted on 04 Apr 2026
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Holy. FUCKING. SHIT! That is a lot of oil!
But the math doesn't check out. The world uses about 37 billion barrels annually. Saudi Arabia has ~260 billion barrels in reserve. That's more 7 years of global oil reserves. It would cover about 40 years of US oil use. And it would cover the modest Saudi annual useage for over 200 years. So no matter which way you slice it, the math is funky here.
Something else I just discovered. Saudi Arabia does not have the world's largest oil reserves. That honor goes to....drumroll....yep, you guessed it. Venezuela.
I dont understand this logic. If they don't pump it, we might not ever use it? And by reserves, I'm assuming they mean unpumped reserves?
I think they mean if they don't sell it before we stop depending on oil, they won't make any money out of the dinosaur juice in the ground.
It's actually made from plants, not dinosaurs. At best, there's some dinosaur dung in there.
The same reason that DeBeers doesn't flood the market with diamonds.
OPEC has always been about manufactured scarcity. It's not a bad scheme, if you have a heavily concentrated, limited resource. The difference, of course, is that oil is actually useful. So might as well pump it while you can, store it where it's easy to get and ration it out.
Saudi Arabia pumps 8 million barrels a day or 2.9 billion barrels annually.