Many are asking why President Bush used this language today as it was hyping fears around the Globe. Add to that, yesterday, Russia's President Putin warning the U.S. about Military action against Iran. Also why wouldn't Bush discuss why he wouldn't comment on Israel bombing a Nuclear Reactor site in Syria, in his news conference yesterday? Fears are ratcheting up on the World stage. So the question is why, especially since Bush has only one year yet in office. He did say today he was "going to sprint to the finish line" of his term in office as he had "unfinished business".
Do you want to guess why he said these things today? Let me take a stab at it and put this picture in a larger context and tie up all the loose ends. First, Alan Greenspan was asked recently and had written in his most recent book, that the Iraq war is all about Oil. He's not the only one to make that statement recently. But to emphasize the point again, it's all about the Oil!
Bush and Cheney are Oil men. Their blood is black not red. Both have been in the business themselves with VP Cheney as the CEO of Haliburton, while the President had his own small Oil company that went bankrupt and was bailed out by the Saudi Royal family.
Remember, when we went into Iraq we were told that the war would be paid for with Iraqi Oil. Did that happen? No! And that was when the price of Oil in 2003 was $30/barrell.
With each progression in raising the stakes in Iraq with more troops and add extending the length of this war, Oil prices continue to rise. Also, comments from the Bush Administration that Iran is trying to develop a Nuclear weapon and must be stopped at all costs, has one and only one effect, Oil prices continued to rise.
As the chart above shows, both this President Bush and his father have had one thing in common. Both created the highest price of Oil than in previous years to their terms and it will be shown that when President Bush leaves office, Oil prices will come down significantly. Why? Because whomever in the next President they won't be trying to create the conditions to increase Oil prices. They will be calming fears in the World.
And let me see if you can guess how the Oil companies have prospered during this time when their Raw materials have tripled in price? Do you think like other businesses that when their raw material costs went up they made less profit? Hmmmmm amazing isn't it?!
By the way, this chart only goes to $70/barrel, not $90, which you can estimate where that would extend if drawn on this page. Today's closing price of Oil was $89/barrell, three times the amount at the start of the Iraq war and we still can't get the war paid for with Iraqi Oil. That is why the Congress and Senate should pass a Windfall Profit tax on Oil companies. Oh, I almost forgot, that won't happen either, as most of the candidates running for President are getting some nice fundraising from Oil company interests, as are those running for office next year. I guess that's one piece of legislation that won't see the light of day.
Year Oil Price
1993-2000 $18.53 Clinton Presidency
Still a non-believer?
Labels: Iran, Iraq war, Oil prices, President Bush, President Clinton, Saudi Royal family, VP Cheney, WWIII