Sunday, April 15, 2018

Post 10: Invisible Flying Monkeys & $70 Trillion of Debt

Invisible Flying Monkeys & $70 Trillion of Debt
Let’s say I’m President of the United States.
Let’s say I send a letter to four countries with the greatest levels of proven oil reserves*: Venezuela – 301 billion barrels, Saudi Arabia – 266, Iran – 158, and Iraq – 142. (These four countries have just over half of the world’s proven reserves). My letter says:
All of your oil is now our oil. We now own every last drop of it. Don’t resist. If you even try to resist, you’ll be attacked by an army of invisible flying monkeys who work for us for free. So don’t even think about it.”
Let’s assume that every drop of that oil can be drilled and transported to market at absolutely no cost. We’ll assume that our army of invisible flying monkeys will take care of all of that.
Let’s say that we sell every one of those barrels at market for $80/ barrel. (Which is above what it is selling for now, and is above average for the last 20 years).
Well, we’ll have just made $69.5 Trillion – almost enough to pay off the total US Debt (the sum total for all government, personal, and business debts).
Total US Debt is on track to top $70 Trillion on April 22nd 2018 – Earth Day.

Let’s review: we’ll pretend that we own half of the world’s oil; we’ll pretend we can get it to market for free; and we’ll pretend that we can sell it all in one instant for an above average price. With all of that, we’ll be just shy of covering our nation’s debts.
So what I’m saying is this: in 2020, vote Clueless Honky for President!
At least I have a plan!

*Excluding Canada and her tar sands, which would be in 3rd place with 170 billion barrels.
Real-Time Debt Counter:

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