We have news that Iraq is ready to boost their production by
900 million barrels PER DAY. Link: http://iqd.me/l/145
If you click on the link you'll see that it's actually 900 THOUSAND barrels a day. Currently their production is around 2.8 million barrels a day, so this would put them at around 3.7 million barrels a day, not 902.8 million barrels a day.
You might recall last year Adam posted his calculations on how Iraq would probably RV to around a dime, and in his math he got millions, billions, and trillions all mixed up. When he was called on it he acted like it was no big deal because what was really important was the overall message he was trying to convey. He'll probably say something similar this time when he issues a clarification, but it's becoming painfully obvious that the man can't do basic math which is surprising since he claims to be a Harvard graduate. Equally surprising is that people will pay the man hundreds or even thousands of dollars for investment advice when he is apparently so careless with his calculations.
I just listened to Frank Villa's conference call from the same day, Wed. Jan. 4. He also said 900 million barrels per day (16:50 in). So either Frank is copying Adam or Adam is copying Frank or they're both copying somebody else who made the same mistake and neither one knows enough about what they're talking about to recognize the mistake. This is another excellent example of why you don't want to listen to these people. They're both truly clueless.