[BP3]

Originally Posted by MicroBrew

2 days ago I heard on the radio that crude Oil was around 20 dollars a barrel when Bush Jnr took office.

heres a link with past crude prices and current price.

http://www.ioga.com/Special/crudeoil_Hist.htm

No....it was around $28.00/barrel.

[J-Fight]

Originally Posted by BP3

No....it was around $28.00/barrel.

That fact doesn't bode well for your anti-liberal/Democrat rants.

The war in Iraq is major reason why............. not the growth of India and China

[MicroBrew]

Originally Posted by BP3

No....it was around $28.00/barrel.

I know, the chart says the average was 27.40 for 2000 and 23.00 for 2001. My mention of the "around 20 dollars a barrel" was me recounting what I heard on the radio. They may have meant the price of crude for 2001 as Clinton was Pres for most of 2000.

[Piper]

15 of the 9/11 hijackers were Saudi citizens. Prince Bandar's wife sent money to some of them as regular support. The largest chunk of money for the attack went through Dubai.

Saudi Arabia and Dubai supported the Taliban government of Afghanistan and had diplomatic recognition of them.

9/11 cost thousands of US lives and was a major hit to the US economy - outright destruction, airline bankruptcies, general economic hit, escalating military costs, homeland security costs, etc., that likely reached - and continues to cost us - over a TRILLION dollars.

The US administration decided to attack Afghanistan and then Iraq. It should have given ultimatums to Saudi, Duabi, etc., and slapped indemnities on them and forced the end of the OPEC cartel, before going into Iraq.

Instead we are stuck with a war of attrition, spending TRILLIONS of dollars, more thousands of lives, and not improving our security or economic situation.

In addition to watching the body count on the news each night, every American who flies is humiliated with searches and having to pay for this huge layer of less-than-effective security and bureaucracy.

In the meantime, Saudi, Dubai, etc., now have oil at $108/barrel, and are taking in TRILLIONS of dollars, still failing to stop the support of terrorists (almost half the jihadis killed in Iraq have been saudis - with their pockets full of cash), buying up our banks and businesses, and building mosques worldwide teaching people in them to hate us and fight us.

Are any of the presidential candidates confronting this?

The price of oil is what it is, because of the oil cartel, and our ineffective politicians, and the oil and Saudi lobbyists who lubricate them. It is in the interest of the cartel, and our enemies, to keep this going on.

If the US slides into a real recession/depression the mood of the American public just might change.

[djacobox372]

High oil prices are a good thing in the long run. Let them drive up the price, get fat on the extra income, and then fall apart like the soviet union did once the prices drop again.

Here's the trend:

1) oil prices go up

2) Citizens of oil rich countries become dependent on government subsidies of their wealthy government

3) Investment in other less lucrative industries is devalued by the ridiculous profits of the oil industry. Citizens don't have to work or be innovative, laziness takes over.

4) oil prices go down

5) gross national income of oil rich nation drops over 50%

6) oil dependent government cannot afford to continue to subsidize their citizens

7) there are no jobs and no alternatives in place for people to turn to once the oil $$ stops flowing

8) people revolt and government falls


It's a good thing...

[Piper]

Originally Posted by djacobox372

High oil prices are a good thing in the long run. Let them drive up the price, get fat on the extra income, and then fall apart like the soviet union did once the prices drop again.

Here's the trend:

1) oil prices go up

2) Citizens of oil rich countries become dependent on government subsidies of their wealthy government

3) Investment in other less lucrative industries is devalued by the ridiculous profits of the oil industry. Citizens don't have to work or be innovative, laziness takes over.

4) oil prices go down

5) gross national income of oil rich nation drops over 50%

6) oil dependent government cannot afford to continue to subsidize their citizens

7) there are no jobs and no alternatives in place for people to turn to once the oil $$ stops flowing

8) people revolt and government falls


It's a good thing...

In part that is true, but, the price can be manipulated to keep alternate and expensive alternate fuels from successfully entering the market - and OPEC members have threatened to do that.

The sovereign oil funds are using their windfalls to buy into other industries in our countries, e.g., owning large chunks of stock. They are diversifying and using those funds to secure their wealth elsewhere. So the parasites move from one source of food to another, without developing themselves and their hosts don't scratch them off or swat them.

In the next 10-20 years the combination of wind, solar, hydrogen, fuel cells, nuclear, etc., will start to be significant, and it will be a matter of seeing what transisitions. But then there is the rising political/religious/demographic crisis that is developing, and things can change rapidly and drastically.

In the space of three years the Nazis went from hosting the Olympics to rolling all over Europe, and within 5 years of that a world war was over and the whole map and regimes had changed. Before that WWI was over in 5 years, with almost all the monarchies of Europe gone or kept as toys, and the Caliphate gone, Communism established, and Fascism too.

[kingstu]

Originally Posted by J-Fight

The war in Iraq is major reason why............. not the growth of India and China

The major reasons are:

1. Weak dollar
2. Speculation

The five-year slide in the U.S. dollar vs. its counterparts has overlapped with acceleration in consumer inflation. That's no coincidence, say some economists. Since it takes more dollars to import goods and services, such as oil, a weak dollar makes imported goods more expensive.

"The weak dollar is behind all of the inflation pressures," says Ellen Zentner, U.S. macro economist at Bank of Tokyo-Mitsubishi UFJ.

Since the start of the year, oil, gasoline, wheat and soy have all hit new record highs, a spike commodity analysts attribute to the weak dollar, supply squeezes and a rush of money from institutional investors seeking protection from inflation. On Friday, the dollar reached a new record low against the euro. It's lost 13% in the past year vs. a basket of six major currencies.

http://www.marketwatch.com/news/stor...06E16FEAD68%7D

Iraq war is a small piece...maybe $5...

[J-Fight]

Originally Posted by kingstu

The major reasons are:

1. Weak dollar
2. Speculation



Iraq war is a small piece...maybe $5...

Iraq war + Bush's fiscal policy = weak dollar

[feedmelies]

Damn it.

$4.00 a gallon coming to a gas station near you!

[Depth]

Originally Posted by J-Fight

That fact doesn't bode well for your anti-liberal/Democrat rants.

The war in Iraq is major reason why............. not the growth of India and China