Tuesday, August 16, 2005

One Man Gathers What Another Man Spills.

Reading Little Green Footballs leads to this:
One man's irony will be another's nifty conspiracy theory - a jack in oil prices rescues Baghdad.
Source: Austin Bay - Three Bucks A Gallon May Save Iraq

Well, the other day a reader left the following comment

One other nice factoid I found somewhere (I can research it if desired):

Iraq's GDP and per-capita income are growing faster than any other state in the region.

That is not all roses because the starting point was in the dumps. I remember the stat as per-capita income being in the $3,700 range for 2004 - which was up some 40%. Projected growth was in the 35% range for 2005. If the projections are accurate than we are looking at a per-capita income of some $5,000. Statistically, once that number exceeds $6,000 there is no turning back on a democratic movement - and the region (or courntry) will inch out of 'gap' status.
Source: Blogger Beer Comment by BoghRD

So, this is interesting thing is Austin Bay puts it in the reverse order. Usually (certain) people suspect we raided Iraq for the oil, but what if oil turns out to save Iraq? Instead of us obtaining oil on the cheap (is it cheap?) the global economy pumps much needed wealth into Iraq?

When I lived in the Middle East you could tell the oil markets were very important to the nations of the Middle East. When oil revenue was low due to depressed demand they were considering imposing an income-tax on ex-patriates. I am quite sure all such talk of that is gone, the oil nations are awash in revenues (just look at Dubai building one world wonder after another) and this is bound to help Iraq. The terrorists had better come up with a way to hit the world economy not just the US economy.