Quote Originally Posted by wellwishes View Post
Your quote is correct, but for reasons opposite yours.

"Oil in the ground will never be exactly the same as money in the bank."

Certain commodities are considered MUCH better than actual money, because of their inherent future value. Oil is one of them.
Mining Companies, Oil Companies, Farmers and everyone else in the World can use Mining Reserves, Oil Reserves, Land, or any other un-developed asset as "Reserves". Since Iraq will "Book" any New Reserves found since they own the Land and the Mineral Rights to the Oil or Natural Gas, Iraq can use the Reserves as assets. Not the Oil Companies since they cannot "Book" the Reserves as their Asset... JMHO