Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Display:
Iraqi oil - major players laughing all the way to the bank | by Jerome a Paris - Dec 24th, 2005 |

So, to sum up the US actions in Iraq re oil:


    • Iraqi oil is cut in half, and taken off the market;

    • prices shoot up

    • oil exporters like Russia and Saudi Arabia get rich

    • they buy European stuff

    • they buy US debt and assets

    • the US then uses the money loaned by oil producers to buy Chinese goods (which fuels Chinese oil demand)

Imagine if the $250 bn spent in Iraq had been used otherwise:


    • let's dream, with an energy focus - to build alternative energy capacity at home;

    • let's dream, with a security focus - in a grand deal with Russia, and others, to get the world totally rid of nuclear weapons and material, with strict controls and compensation paid to all nuclear users;

    • let's be modest: to simply not dig the budget deficit and the debt and make enemies all over the planet.

    • let's be cynical: give half to ExxonMobil and Halliburton and co - it would still be more than they are getting now, with less "collateral damages"

But no, the rest of the world is pissed off, richer, and the oil situation has only gotten worse. Nice job.

 
However to set the future, in 2008 Cheney & cabal declared war on Russia ...

NATO Summit of Bucharest - A Declaration of War - Part 2 | by Oui @BooMan |

'Sapere aude'

by Oui (Oui) on Mon May 6th, 2024 at 05:37:31 PM EST
[ Parent ]

Others have rated this comment as follows:

Cat 4

Display:

Occasional Series