Friday, July 4, 2008

oil reserve correlation and gas increase

I found an interesting table on wikipedia about the oil reserves in the middle east. since 1988, when Bush 1 went into office, the amount of strategic oil reserves have increased rapidly. for instance in 1988 iraq reserve was 47.10 and in 1987 it went to 100 in 1988, iran's reserve in 1987 was 48.10 to 92.85 in 1988. The biggest was saudi arabia who in 1989 was 169.97 to 258 in 1990. These reserves are being held as non consumable commodities.