NOTE: Give your main reference for any facts that you use in your answers (you\'
ID: 285835 • Letter: N
Question
NOTE: Give your main reference for any facts that you use in your answers (you'lI have to do some research for these questions): (1) 2.8 million barrels a day = Kuwait oil export At current prices (~$40/barrel this year for international oil market), what is the total annual oil-revenue of Kuwait? With the current Kuwait population (use citizens only! Exclude "non-nationals".); what is the approximate annual income per- Kuwait citizen from oil (the main source of government revenue)? (2) 2.9 million barrels a day-Iraq oil export (average in 2013) At current prices, what is the total annual oil-revenue of Iraq? With the current Iraqi population, and the fact that 50% of the revenue seems to "vanish" (include this aspect); what is the approximate annual income per-Iraqi (per-person) from oil? (3) Hidden costs The Persian Gulf region (Arabia, Kuwait, Iraq, Iran, etc.) produces about 20 million barrels of oil per day. Since 2000, the average USA involvement in the region costs about $250 billion per year (minimum; includes adjacent Syria and Afghanistan). A stated purpose of USA military presence is "to stabilize the flow of oil from the region". Therefore, what is this "extra annual security cost per barre? (4) Shiite versus Sunni The conflict between these philosophies has been and will be a major factor in stability of many Middle East nations and conflicts between them; therefore affecting oil production/prices. What are the main differences, and Why do these two religious groups dislike each other? [please be concise]Explanation / Answer
1) oil prices= 40$ /barrel
daily revenue= 2.8 million $ *40
= 112 million $
annual revenue= 112 million $ * 365
=40,880 million $
population of kuwait= 4,171,306 (as of Sunday 28 jan 2018)
per capita income = annual revenue/ population
= 40,880 million $ / 4,171,306
= 9800.28 $
approximately 9800 US $ is the annual income of a Kuwait citizens from oil exports.
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