when pumped out of the ground and put into the holding tank of a giant ocean-going ship it sure is.
but I was referring to hereditary mineral rights, which is really more about political power and the (very expensive) maintenance of an oppressive regime. those mineral rights eventually convert into oil on tanker ships but it's really incredibly precarious and a single political shift (internal revolution, invading army, etc.) makes it all vanish in a heartbeat.
the amount of oil-on-ships wealth that an Arab tyrant has on hand at any given time is relatively modest. most of the wealth is future claims to continue selling that oil, and that's not a very liquid form of wealth at all.
but I was referring to hereditary mineral rights, which is really more about political power and the (very expensive) maintenance of an oppressive regime. those mineral rights eventually convert into oil on tanker ships but it's really incredibly precarious and a single political shift (internal revolution, invading army, etc.) makes it all vanish in a heartbeat.
the amount of oil-on-ships wealth that an Arab tyrant has on hand at any given time is relatively modest. most of the wealth is future claims to continue selling that oil, and that's not a very liquid form of wealth at all.