Why would the oil wealth not be distributed in anything other than a flat manner? It’s not at all like a tax. Each Iraqi would be entitled to an equal share?

I think that you need to figure in that all that oil being produced means that there will be a need for oil services to maintain the equipment. Either Iraqis or expats, in either case spending money. Plus the need for local restaurants; local machine shops to make up custom parts; local grocery stores, etc. etc.

Actually that’s not a bad deal for the average Iraqi. A poor Iraqi probably earns about 500-600 dollars per year. And if the $200 is a per capita figure then a poor Iraqi family could expect a $800-$1200 bonus check every year. Not bad at all. Ask the Alaskans how they feel about their oil checks.

It turns out that the average schoolteacher in Maine, where there are no apparent economically-useful natural resources, makes more than even the average pre-Saddam Iraqi. (Who in turn makes 10 times what Iraqis did living under Saddam.)

It turns out that being gifted the most important natural resource in the world did not make the Arabic world productive.

It turns out that the economic growth of productive societies is more powerful than having a lifetime supply of free energy under your feet.