Friday, February 24, 2012


Some in the news media are pointing out that the surge in oil prices is not because of supply and demand since under Obama our dependency on foreign oil has gone down and domestic oil production has gone up, we are actually much more oil independent under Obama than we were under Bush/Cheney.

The supply is fine and the talk that it's the fear of war with Iran that's raising the price can be easily debunked. But some are noting that the real reason is oil speculators and investors. Who benefits from that? Mostly the oil corporations and their CEOs and biggest investors especially.

The Koch brothers and other rightwing corporate overlords in the oil and energy business are not only making even more unfathomable money but are disrupting the economic recovery which was becoming so obvious it looked like Obama would be hard to beat in November.

But not if oil prices go up and stay up. Unless there is a widespread Middle East war that goes way beyond Iran and disrupts oil production in Nigeria and Libya and Venezuela and etc. etc. etc. which ain't gonna happen, the only reason for the prices skyrocketing is profiteering and manipulation by giant investors who want to see the economy disrupted at least until Obama gets beat (by the rise in oil prices).

It's as simple as that. Follow the money.

1 comment:

JIm said...
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