Iraq: Americans Pay US$300 a barrel or More for Mideast Oil

So what is the real cost of the Iraq war in terms of oil import prices?

My rough estimate is that the real cost of oil from the Middle East for Americans may total US$300 a barrel or more.


But no one has made the calculation.
What is known is that the White House has asked for US$804 billion so far to pay for Iraq. But a recent report by Democrats point out hidden costs. They estimate they are US$1 trillion or roughly $20,000 for every family of four.

But that may be light too.

If you divide the US$1 trillion by my estimate based on recent figures of roughly 43.2 billion barrels imported from the Middle East for the past five years, the straight-up oil price added cost is US$23 a barrel. That is per barrel for all five years.

Financial Post