In what country is 10 times 100 million = 1 trillion? England?

Question

Adam C answered a question about oil and Saudi Arabia and said, more or less, that the Saudi's were raking in over a trillion dollars a day from oil sales. I thought he was loco, but perhaps he is in a country where the above statement is true?

Answer 1

Hi Paul

I was using very rough figures but here's how it came about:

Saudi oil production = 10 million barrels per day (varies - the CIA factbook - see source - says 11 m bbl/d in 2007).

Your question was about selling oil at $60/barrel so I took $125 as the current approx. price, subtracted the 60 and said, OK, the Saudis would lose $65/barrel. This made the end amount:

$65 X 10,000,000 barrels X 365 days = $237,250,000,000 per year or just over 237 billion dollars...

So, you're right - I goofed (late night) it should have been billions not trillions but what's a few zeros amongst friends??

To answer this question, 10 x 100 million (10^9) = a billion in the US. It used to be that a billion in the UK and Europe was 10^12 or 10,000 x 100 million but more and more, especially in finance, the US definition is understood.

Sorry about the error on the other question (although I still stand by the logic!)

10,000

Answer 2

There is no country where this happens. In the USA, it is a billion, and 1000 billion is a trillion. In England, it is a milliard.

Answer 3

All English speaking countries took it over, first the USA, then man others. In Central Europe 10 x 100 millions is a "Milliarde".