2007-09-21 17:00:43 · 18 answers · asked by Anonymous in Politics & Government ➔ Other - Politics & Government
No one said the oil was for you...the oil skyrocketed because they have control of Iraq oil.
2007-09-21 17:03:08 · answer #1 · answered by Edge Caliber 6 · 7⤊ 1⤋
Good question - The price of oil on world markets increased the second the Federal Reserve lowered interest rates. The dollar dive-bombed against the Euro. When the dollar declines relative to the Euro, it takes more dollars to buy a barrel of oil.
The dollar is no longer the king of currencies as a new currency is captivating the market, and that is the Euro - the single currency of the new 27 member countries of the European Union.
Also, the price of oil is manipulated by the Bush administration and the major oil corporations when it is politically expedient to do so. Mathematically, the price of oil at the pumps should be well over $3 per gallon. Bush knows this is political suicide if the per gallon cost of gas reaches this benchmark. It is a nasty business. Bush and Cheney are slowly destroying the US economy.
2007-09-21 17:51:48 · answer #2 · answered by fenx 5 · 1⤊ 1⤋
Somple--listen to EVERYTHING Greenspan said.
To put ina nutshell: by creating an American proxy state in Iraq, the Bush administration could accomplish two things: a) create a sustained crisis mentality in the region--thus driving theprice of oil up (which answers your question), and b)by establishing a permanent American military presence in the region, position forces to control the oil supply from the region.
Surely you don't think BushCo ever had any intentionof bring the price of oil Down? There's no profit in that.
2007-09-21 17:07:34 · answer #3 · answered by Anonymous · 5⤊ 1⤋
A) particular, he suggested it to sell books. B) He suggested it become unlucky that because of the fact of politics, the administration won't be in a position to pop out and admit that the conflict is approximately oil to a pair volume. C) He additionally suggested that, without the conflict, oil may well be at a hundred thirty five+ money a barrel. In different phrases, he become pointing out what he sees because of the fact the political certainty of the situatiion, not making a value judgment on the advisability of the conflict.
2016-11-06 01:31:10 · answer #4 · answered by Anonymous · 0⤊ 0⤋
We had no idea of the decrepitude of Iraq's oil infrastructure before going in. There are refineries that need to be shut down and replaced nearly in toto... if we can even do it without blowing ourselves up. Remember, Saddam's brand of rule was kleptocracy - redistributing wealth from every area of the public and private sector to himself and his cronies... a few less gilded panels on the walls of palace number 23 could have meant reasonably well maintained pipes and valves.
The insurgency is also making things difficult, since it's easy for them to disrupt the flow of gas or oil by striking any portion of the thousands of pipeline miles girdling the country. There isn't an army big enough to guard every last foot of it.
So, the formula is simple: with plenty of reserves, but barely pre-war levels of extraction, refinement and transport, and a soaring world population, Iraq's petroleum is doing nothing to sate demand enough to keep the price down.
Scarlett: let's you and I form the "punished for giving out thoughtful answers" club... sheesh...
2007-09-21 17:10:18 · answer #5 · answered by Aaron W 3 · 0⤊ 2⤋
Oil is a commodity. Futures contracts prices are easily manipulated by large institutions-like oil companies and their subsidiaries.
And yes, the gains go to corporations.
2007-09-21 17:08:47 · answer #6 · answered by Middleclassandnotquiet 6 · 3⤊ 0⤋
Because as it turned out, we didn't get the oil. Saudi Arabia, our so called friends, control the price and make us pay through the nose. By the way, the 9-11 bombers were from Saudi Arabia.
2007-09-21 17:09:11 · answer #7 · answered by notyou311 7 · 3⤊ 0⤋
Not enough oil coming out of Iraq.
2007-09-21 17:03:08 · answer #8 · answered by bobanalyst 6 · 1⤊ 1⤋
And so did the profits of the oil companies. It has nothing to do with keeping the price of oil low. It's all about the corporations.
2007-09-21 17:04:00 · answer #9 · answered by wooper 5 · 6⤊ 1⤋
If Greenspan say it.. then I believe it.. I would believe him a hundred times over Bush or Cheney or any of the Crap Pack.
2007-09-21 17:37:09 · answer #10 · answered by Debra H 7 · 3⤊ 0⤋