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  • I read an interesting article on IS today, an economists view of their "state" from the perspective of revenues raised (oil, ransoms, 10% tithe on earnings, looting) vs. expenditure (infrastructure through to food).

    Syria was/is a net importer of both food and oil, Iraq has a lot more oil but, again, imported 60% of its grain.

    Common to both conquered territories is the displacement of the farmers - who would need to be enticed back in order for there to be a harvest next year.

    IS also need to create refining capacity and work out how to sell a $100 barrel of oil for more than $30, and now that they keep cutting their hostages heads off it is anticipated that ransom revenue will drop.

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