Research (Proinvestory.cz)
Markets  |  October 25, 2012 13:00:07

Greece and its discoveries of gold and oil. What is their significance?


Recently discovered information that   Greece could greatly assist gold mining, oil and gas , that can help him out of crisis. I decided to look at this information.

As for the oil and natural gas, no precise figures are not available yet - what happens surveys of oil and natural gas will see in the future, measurements should take a year or more. Meanwhile, speculations about 300 miles barrels of oil that could be mine for 25 years. Annual production would average was 12 miles barrels a year. At today's prices, and 10% of the license fees, the annual income of the Greek state budget could get 150 miles to dollars. Increase in oil prices would not help the Greek budget as well must import most of its oil.

As for gold, he wants to Greece in 2016 to become the largest European producer. Due to the volume of gold mining in Europe is a completely irrelevant information, even if it will be on the boundary of the fourth and fifth decades of world rankings. Greece plans to benefit this year 425,000 ounces. At today's prices, this production is less than 750 miles per year. While this is nice at first glance, but it is the projects of private companies. If paying license fees as10% of mining contribution to the Greek national budget is suddenly under 100 miles per year, approximately at the level of one-day budget deficit.

Aggregate royalties from oil and gas and could even be on the 250 miles of dollars a year, would cover less than a week the Greek state budget deficit (or approximately the 2%) and no increase in the price of gold by hundreds of percent over the Greek economy by night on foot not built.

The biggest effect would be the employment of people and not the fact that it is a gold mining or oil.

Recently discovered information that  Greece could greatly assist gold mining, oil and gas , that can help him out of crisis. I decided to look at this information.

As for the oil and natural gas, no precise figures are not available yet - what happens surveys of oil and natural gas will see in the future, measurements should take a year or more. Meanwhile, speculations about 300 miles barrels of oil that could be mine for 25 years. Annual production would average was 12 miles barrels a year. At today's prices, and 10% of the license fees, the annual income of the Greek state budget could get 150 miles to dollars. Increase in oil prices would not help the Greek budget as well must import most of its oil.

As for gold, he wants to Greece in 2016 to become the largest European producer. Due to the volume of gold mining in Europe is a completely irrelevant information, even if it will be on the boundary of the fourth and fifth decades of world rankings. Greece plans to benefit this year 425,000 ounces. At today's prices, this production is less than 750 miles per year. While this is nice at first glance, but it is the projects of private companies. If paying royalties for example, 10% of mining contribution to the Greek national budget is suddenly under 100 miles per year, approximately at the level of one-day budget deficit.

-Webkit-text-stroke-width: 0px; "> Composite royalties from oil and gas, even so might be 250 miles per year, therefore, would not even cover the weekly Greek state budget deficit (or approximately the 2%) and even Gold price increase by hundreds of percent by the Greek economy over night did not stand on his feet.

The biggest effect would be the employment of people and not the fact that it is a gold mining or oil.

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