Saturday, August 07, 2004
Avedon Carol found a post by Bill Scher of Liberal Oasis entitled "Will the Oil Men Be Done In by Oil?"
Oil prices jumped to more than $44 a barrel yesterday, with some analysts saying $50 is possible.Kerry, meanwhile, crosses the country preaching the gospel of energy independence -- a notion utterly foreign to the former head of Arbusto, who has always depended on the kindness of Saudis throughout his long, sad history of drilling dry holes.
On ABC's World News Tonight, in its top story, one energy analyst said: We are one disruption away from shortages…That's what this market is telling us. This is why we are at an all-time high right now.
One does not wish for shortages, as it is the poor and middle-classes that would bear the brunt.
At the same time, it would be deliciously ironic for the oil-soaked Bush Administration to be turned out in part because they were incompetent at managing oil politics.
Let's look at many of the factors contributing to the price spike.
- Russia Prez Putin's political power-play against oil company Yukos, freezing its bank accounts over a tax dispute, which may lead to a shutdown.
Bush's Blunder: praising Putin's vision while he turns Russia into a quasi-dictatorship, thereby allowing Putin to go after Yukos, which is headed by a political opponent.
- Pipeline sabotage in Iraq.
Bush's Blunder: War and occupation under false pretenses.
- General fear of terrorism.
Bush's Blunder: Orange Alert under shaky pretenses.
- Expected strikes and disruptions in Venezuela following the Aug. 15 referendum on Hugo Chavez's rule.
Bush's Blunder: Backing coups and encouraging unrest instead of facilitating democracy.