Before America put two oilmen in the White House (circa 1998)
After America put two oilmen in the White House (circa today, down your street)
Nice job America
Try not to f*ck it up next time.
March 08, 2008
Thank you America for voting for Bush and Cheney. Twice. I hope those of you who f*cked up now see the damage you've done
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117 comments:
Be fair, Keith. Gas in the US was not averaging $0.70 in 1998. But it was running less that $1, which is why SUVs became so popular.
To be honest, with the choices available it will be hard to not f*ck up this election too.
Last time gas was under one dollar was in 1990 when I was in high school.
I remember 1998 well. I moved from Kauai to the Sacramento area in June of 1998. I was paying $1.829 a gallon for Chevron gas and found $.929 Chevron gas at some stations. If you went with no-name quickie mart gas it was around 87-89 cents a gallon. I took pictures of the signs and sent them home because no one in Hawaii believed me. Late that fall there was a refinery fire in Vallejo or Richmond and gas jumped 20 cents overnight and about 35-40 cents over the next month. Since then I have seen prices change 2-3 times in a day whenever the news broke any type of story… Talk about total price manipulation.
Peak Oil happened in 2005, oil sands are a joke, and OPEC's oil reserve estimates are so fraudulent they make ENRON look like a tea party.
You think 100$ oil is expensive? Wait util it goes to 200$.
LOL is that the best your Democrats have? Continuing to blame Bush for high oil prices when we haven't built a refinery in 30 years because of tree-hugging environmental wacked out democrats. Oil prices are a function of supply and demand. Anyone with a brain can see that it's ashame the owner of this website doesn't have one!! You democrats really need to get some new material....
Coffee is at record highs too. I guess that means Cheney/Bush are Juan Valdez' cousins.
And gas in the late 90s was around $1.20 / $1.30 in the northeast where I lived at the time. I got my licence in 1991 and don't think I have ever bought gas for under $1 a gallon.
Keith you fall into an easy trap of blaming or giving praise to presidents. Presidents, whether dems or reps have very little influence on the economy. Saying gas is expensive because Bush is from Texas has as much validity as saying Gore invented the internet.
And gee wiz Bush held hands with some Arabs. OK. Obama dressed up as OBL on a trip to Africa. And....
I'd love to see gas get to $5 a gallon. Even $7 or $8. I drive a car that gets 32MPG and don't drive enough to even think about gas prices. The only way we will get off our dependence on Arab oil is to make it so expensive as to force everyone to give up the V8 12 MPG SUV.
If we go back to $1 gas again, all that will happen is every douchebag out there will be buying up Escalades and H2s again. Why would you want that?
Cheap gas causes many problems...Hummers come to mind. Its not all bad that we are getting slammed but I do agree that GW is behind it and let the dominoes fall to his advantage...why else is he not on TV every other day calling for conservation?
Regular was under one dollar when I was in high school. (circa 1998). By under one dollar I mean 99.9 cents. Premium hasn't been under one dollar in my lifetime, at least not around where I live.
I will be stupified if hot temper McCain is elected. Oh well, J6P be damed.
Fuel prices took a HUGE jump in Nor Cal yesterday. Diesel at $4.19 a Gal! Mid grade gas 3.79.
Food prices up sharply also.
Gas was definitely under $1.00 in North Carolina in spring of 2000. I know for a fact because my gas gauge doesn't work on my 1972 Chevy so I keep the fill up records.
Also I voted for Bush in 2000. In 2004, I voted not to elect bush (Kerry blows). My grandmother almost disowned me. Today she thinks Bush is the worst president in her 83 years of memory.
That's not true, Frank. When I first got my license, in 1994, gas was 97 cents. Up until 1997, I remember gas ranged between 88 cents to 1.15 cents in Maryland.
Both my husband and myself sold our larger cars last year, and knew this was coming.
Prices are very close to $4 here in the bay area.
Ever since I've been old enough to vote (and that has been quite some time), I've NEVER gotten the chance to vote for someone that I actually like; it has always been the lesser of two really bad candidates. The democrats have put up two really bad candidates these last two elections and they stand posed to put up a third really bad candidate. It doesn't make any difference if they choose Hillary or Obama, it's the difference of socialist (Hillary) versus uber socialist (Obama) - I couldn't vote for either one, I'd rather not live in a socialist country. I don't love McCain, I disagree with him on many issues and many levels, but given the choice (kind of 'do you call that a choice?') - I will be voting for McCain. Again, I don't like any of them, I merely vote for the lesser of two really bad choices.
Good, I hope it hits $6 a gallon soon. Too many nutsacks on the road anyway.
Given that during the runup in gas prices oil companies have made record profits, it is not like they are just passing along rising wholesale costs due to increased global demand.
They found out that every year they can raise prices from where they were the previous year and just keep "pushing the envelope". The reason is always some refinery in Koombaya offline for repairs or some other lame excuse.
So it is a combination of more demand, more gouging, and the weakening dollar that drives up prices.
If it were JUST oil prices I think most people could deal with that. But the foundation of our whole economy is based on oil-driven transportation costs. So many essentials (e.g. food) are shooting up.
And Helicopter Ben's actions to bail out the banking scum exacerbates the whole thing. He SHOULD be raising rates to protect the dollar as inflation is very high.
If it were you or me who had the failing business (even a local bank), NOBODY would come to our rescue. Why, because our business failed in the "free market economy" and the free market economists are ALWAYS against the government being involved in business....well, er, ahem...except for you know who....
So why bail out big banks? Aren't they just another failed business? If they couldn't compete, then the free market dictates they SHOULD fail.
But we all know who has been running this country since 1913...
A revolution is the only answer at this point....
Gas was .75-.90 PG during the year I lived in Atlanta in 1998.
it doesn't matter who is in office. they only do what they are told by the men behind the curtain.
I remember when 20 bucks would fill up my gas tank and buy me a 6 pack.
Hobo
Dumbo is kissing the wrong orifice in this picture.
He is so used to having his head up his ass he must have come up for air.
Can you think of a worse human being?
You call an unconstitutional 5/4 supreme court decision, rigged Diebold machines, and every election day trick in the book "the voice of the American people"? Confusing butterfly ballots are an old ploy, so is harassment, tossing ballots, etc.
Frank,
You ignorant stupid arrogant asshole, it was below $1.00 during the late 1990s. I guess you don't remember because you were riding the bus in snottsdale at that time.
Or were you busy blowing chunks because your antagonist brother bill was in the white house?
Regular unleaded was 88 cents in 1989...I clearly remember this as the cheapest gasoline from since as far back as I can remember; I was 10 at the time.
The era of 99 cent gas is over forever no matter who is president because the imbeciles in corporate America exported our lifestyle to the Chinese and Indians. For you to be able to fill the tank of your car for $15 the guy in China who is your counterpart has to own a bike as primary transportation.
The Chinese and Indians are buying private cars in mass numbers. There is just not enough oil to go around for everyone. $4 gas will not do it but when it pushes to $7+ I would expect the first salvos in the WW3 US vs. China nuclear war to be thrown.
We did this to ourselves and have no one else to blame.
I filled up at .99/gal in Columbus, OH in Summer 2002.
70 cents a gallon in 98, no f'ing way. Get a clue Keith.
Do I need to put my boot in yo asses?Shit Man!
As long as we keep playing around with the fairytale that is the US we will always have.............
WAR-since 1776 .just like McDungolds We quit quit counting!The number of wars,aaannd the billion ,and billions wasted.
Dollar devaluation-We supposedly quit England because of 6% taxes,and the vast majority of VOTERS think that the tanking dollar is something new.Phukheads.
Bank scams-Yep ,way before the US was conceived,and darn- the VOTERS think Mozillo is the cause of the whole blown economy.
Any of you dickheads remember the SnL fiasco?
Oh yeah the US had nothing to do with it.Not congress,not the Prez,and not anyone at the scamming SEC,they were all juss DUMMBERNNSHIT.
911-need I say more?OK I will........For anyone to believe the official story about a bunch of drugged-up religeous freaks penetrating the best defense system in the world with slow overweight airliners,box cutters,and all within 4hrs of each other has to be a GENUINE,100%indoctrinated retard,AKA a VOTER.
Voters should be assembled in lines,fitted with their elbow pads,mouth guards ,and crash helmets.Then taken to the polls.I do believe it to be nice thing about the US letting a bunch of retardz run around loose throughout the country though.The Native population has to take issue with it though.Now I know why those Indians are lauphing.
This isn't Americas fault.So thank the US,and it's legion of Tardz.
Shakster
America already fucked up by not backing Ron Paul.
Now we are stuck with the lesser of three evils.
Don't pin this on the American people; they voted to elect Al Gore. Your outrage would be better directed towards the electoral system, the closed primary process, and the party bosses who are running this racket
Cue the shrieking gooper harpies who frequent this blog.
Wait for it...wait for it...go:
"It's not the [mildly retarded] George Bush's fault, it's Clinton's fault!"
Gas was less than a dollar in the mid nineties through out much of the south. I can remember buying gas for $0.89 in georgia in 96
Are Bush and that Arab dude going to spoon?
Gas was NEVER under $1.00 during Clinton - bad photoshop job...
Maybe you can you show some dot.com prices. You know - when Clinton first took office and when he left. Show some people being paid with stock options...
Start with pets.com
Amen, Keith.
Are you crazy? In mid-2000, I was paying $1.99/gallon. In 1992, I was paying $1.02 gallon. So after one administration, gas prices doubled. Since 2000, gas prices have almost doubled again after another administration.
Al Queffer, what's the price of gas in Europe? I hear it's twice as expensive over there. Who's fault is that?
I blame the Democraps who won't allow drilling in Alaska, California and Florida. All the oilfields they found South of Florida are being drilled by the Chinese and Cubans now.
Keith,
The National Democratic Party is doing all they can to f@ck it up. And Hillary, Queen Hillary. What can I say?
I'm a lifelong Democrat and I will not vote for her. Period.
Er, it's not like the dumbass American public has much of a choice. They don't even know that the information they receive from their corporate media is completely biased and self serving. How can the American public make an informed choice when they're given a media picked selection of candidates? I mean who do we have to pick from right now: Clinton, McCain and Obama. Wow, what a choice! Obama is of course the least of the three evils - at least he would be the one to do the least damage.
The reason gas/oil is so expensive is b/c of Greenspan, and now Bernanke, lowering rates and keeping them too low for too long. Geez, I thought everybody who has been following the dollar crash knew that.
If you want a president to blame, I would start w/ Nixon for basically ending the gold standard for the US Dollar.
Gas hit 98 cents in Chicago in 1998 all for 2 minutes. Chicago now leads the nation in the highest gas prices. He pay more than godamn Hawaii!! Middle of the F-ing country. A railroad hub. Ugh. The reason? Our "Democratic" aristocracy taxes us to death.
Yep, Bush created a gas hungry China and India.
How stupid do you have to be believe that a President has any control over gas prices? Man you're an idiot.
Honestly, I think they still havent figured it out.
These fuckers still want a republican in the house.
For the freaking life of me. This is like a slow and painful death.
Freaking idiots. Will you just freaking stop and think for once. These freaking "conservatives" are destroying this country.
Get them out, and get them out fast before we face WWIII.
Overly simplistic to say America in and of itself controls gas prices.
I say much of the blame goes to the Chinese and Indians for their bubble economies and them having too many kids.
Uh, I don't think gas has veeb under a dollar in a long time - well before 1998. I think your data is flawed.
Dubya Shrub + Penis Shooter = "Little Boy" + "Fat Man"
This nation and its Americano citizen is as toasted as a snapper turtle skewered on a Chinese bamboo stick from mouth to ass all sizzling, sputtering, roasting nicely, juices dripping, fat popping over a bed of white hot charcoal grill.
Americano = Grilled Snapper Turtle
Heeeee... Haaaaa... Arrrrr...
Gasoline is now at its lowest level in the history of the Americano. It is only $105.00 a barrel of oil and it will head to $150 Americano dollar currency in a blink. Cheap, ain't it ?
So, tell me, does the average Americano, Joe6Pack and JaneZinfandel take it enough in the rear orifice yet by the forceful penetration of "Little Boy" + "Fat Man", or do you want more "Enter The Dragon" ?
Americano = Being Entered By The Dragon up the Kazook
"BORKAFATTY" AKA The Pig is swallowing, roosting, snouting, chomping at the maggot feed trough.
Heeeee... Haaaaa... Arrrrr...
And all of you retards, ass-head that voted for SHRUB and worshipped his ASS over the last 8 years, guess what, the chicken are coming home to roost on your head-ass. The ancient snapper turtle probably have more brain cell than you and your children combined together. Are you sorry yet ? Do you feel ashamed and stupid about your shallow thinking, narrow-minded love and bat blind worshipping for DUBYA ? Do you, do you, do you ???
Don't pin this on the American people; they voted to elect Al Gore. Your outrage would be better directed towards the electoral system, the closed primary process, and the party bosses who are running this racket
I dont know how people do it. I am fortunate that I work from home and don't drive my car very much. Gassed up the first time in 3 weeks and it cost me $30 regular gas to get a half tank. I can just imagine putting in a full tank every couple of days for
$60 plus that has too be hard.
You won't care about the cost of gas after Barrack Hussein Osama and his army of liberal MoveOn members force you into a gay marriage. Thank God for Republicans.
Keith - $5.00 gas has ZERO to do with Bush and Cheney.
We have too many people wanting too few oil.
Google Peak Oil.
We past peak in 2005.
Expect $25.00 gas.
Enjoy the dieoff!!!
Gas did dip under $1 for a few months in 1998 before it popped to $1.60 by summer of 1999. That was all before China and India became industrialized. We'll never see cheap oil again with 2.5 billion people wanting cars, indoor plumbing and electricity. The other causes of course, are the debased currency and gas taxes
This blog loses its credibility whenever it strays from the issue of housing panic.
The idea that this is the worst presidency of all time can only come from someone who didn't live thru the Carter years.
We can't build new refineries. We can't drill for oil over here. China and India are sucking up all the ME oil for their uses. Yet somehow it's the President's fault for the price of oil.
Yessir, it's all Bush's fault.
McCain for your next 100 year war. It's our best hope!!!
Yah right. 85% of the oil is controlled by non-U.S. companies and they set world prices, but the high cost of gasoline is all the fault of Exxon, Bush, and Cheney. I guess the millions of Chinese and Indians who start driving cars each year have nothing to do with rising oil prices?
Have any of you geniuses ever taken even a basic economics class? This is classic supply and demand at work. Any profiteering is at best a marginal sideshow. Quit your bitching and start planning for a world where oil is $250/bbl.
My first job in 1940 was at 25cents and hour, and gasoline was 12-16cents a gallong. About 50%-60%of an hours wage.
Minimum wage now is $8 an hour and 50%-60% of an hours wage is $4-$4.80 cents.
Gasoline is cheaper now than it was in 1940.
Oil was $3 a barrel in 1940, wages now are 32 times what they were in 1940, so oil should be at $96 a barrel, and is within 10% of that figure.
It will go higher as wages go higher.
This is all you really need to know.
http://www.abc.net.au/science/crude/
http://store.aetv.com/html/product/index.jhtml?id=110390
frank@scottsdalesucks said:
Last time gas was under one dollar was in 1990 when I was in high school.
-----------------------------------
You're obviously still in high school
18 years later. You're either a liar or stupid but in your case, a persuasive argument can be made that you're both. Gas WAS under a gallon in the period referenced by Keith.
My advice to you:
Get out of Hillary country liberal California and back to McCain country redneck Arizona and especially Scottsdale, the last refuge of nitwit ill-informed fabricators like yourself.
In your case, you NEED to go back to your home, Scottsdale.
Too late all this silliness during this campaign from HILLARY CLINTON
(and rabid racist like Rush Limbaugh and alot of elected politicians) does anyone read the papers with more than a passing glance or do they pass over negative articles about Hillary Clinton because they think she is so experienced, you bet she is, she is a Washington Politician through and through. Why does no one raise the issue that BILL CLINTON IS ON THE BOARD OF AN DUBAI OIL FIRM AS WELL AS A SOUTH AMERICAN SUGAR CANE FARM(think no changing that NAFTA agreement from her and jobs will still be going, when she gets in office the only change she will make is either Mexico or Saudi Arabia as most favored nation) That is why they are not releasing that tax return. Obama was just so removed from all that bullshit, for now anyway, at least he is not tainted as much as her. I hope she does win so you get what you deserve. I am feeling sorry for B. Obama because to have worked with rabid racist when white folks gang up on black people they have a way of making one feel like one should just be dead. And I know alot of you think maybe we should be. He is not fighting a few co workers he is fighting a whole nation and I would never want to be in his position.
There are no decent candidates running for office.
We'll just get another 4-years of
empty promises and lip service - Democratic, or Republican doesn't make any difference.
frank@scottsdale said:
Last time gas was under one dollar was in 1990 when I was in high school.
-----------------------------------
You're obviously still in high school 18 years later. Either just stupid or a liar, but in your case, probably both, you post a blatantly false fact, similar to your deserted blog on Scottsdale.
Gas WAS at the price point Keith referenced for 1998.
As you're exposed as a crypto Bush/Cheney/ zealot and other failed humiliated right-wing wackos,my advice to you:
Crawl out of Hillary country liberal California and return to dumbdowned Arizona, home of McSame
losers and "circle the wagons" Bush lapdogs such as yourself.
Frank, in your twisted case, you HAVE to go back home again, to Scottsdale, AZ. your land of make believe and denial.
In 1997/1998 Asia's economies collapsed. Demand for oil plummeted at the same time. That lasted until around 2000 when oil spiked up again. Don't you remember when Clinton used supplies from the strategic reserves just before the 2000 election?
Oh that's right, it was all Bush's fault then too.
From June 16, 2000:
NEW YORK (CNN) -- President Bill Clinton expressed frustration and concern Friday over consistently high gasoline prices in the Chicago-Milwaukee area, but said that it's not yet clear if price gouging was taking place.
Clinton concerned about unusually high gas prices in Midwest
"It's been very frustrating to me. I'm quite concerned about it," Clinton said during an interview with NBC's "Today" show during a visit to New York.
Prices at the pump in that region have been topping $2 a gallon, much higher than the national average of around $1.50 a gallon.
If oil was so cheap in Clinton's days, why did he have to do this?
9/23/00
PRESIDENT CLINTON DIRECTS $400 MILLION RELEASE IN LIHEAP EMERGENCY FUNDS IN RESPONSE TO HIGH HEATING FUEL PRICES: President Clinton today will direct the Department of Health and Human Services (HHS) to release $400 million in Low Income Home Energy Assistance Program (LIHEAP) emergency funds to all States to assist low-income households facing significant increases for heating oil, natural gas, and propane prices this coming winter. This is the largest release of LIHEAP emergency funds ever. By acting early, this action will encourage States to take steps now to help low-income households cope with high fuel prices this coming winter. States can raise benefit levels, adopt the maximum income limits under Federal guidelines or expand outreach to assist more families.
Here's a thought... The country has it's collective panties in a wad over the completely natural process of global warming - something that happens after global cooling with, or without the help of the human race.
with the religion of Green running the country, the Us hasn't built a new refinery in 30 years, or drilled any new wells for that matter.
I personally know people in the oil business that have drilled THOUSANDS of wells across central and western KS, only to plug them due to gvmt environmental laws.
Want to drop the price of oil? QUIT IMPORTING IT. Drill at home, give the greens the finger, put a luxury tax on SUVs, take back Al Gore's Nobel Prize, and start converting to nuclear power to make ourselves self sufficient.
Until that happens, it won't matter if we have a whole convent of nuns in charge of the country - OPEC has us by the short and curlies and the followers of Green are glad to keep us there.
I doubt this post will be allowed, but it was worth a try.
Well said above:) No one seems to realize that the Greens are usuing global warming as an economic/political tool. Why can't we drill here.....environmental protection laws = imported oil = higher costs to consumers. Unfortunately, the media is controlled by corporate America and the elitists and they keep shoving global warming down our throats. Do your own research people, global warming is a scam to keep the rich richer and the poor in debt.
LOL is that the best your Democrats have? Continuing to blame Bush for high oil prices when we haven't built a refinery in 30 years because of tree-hugging environmental wacked out democrats.
-----------------------
Listen asshole the truth hurts so deal with it. Everyone knows Bush and Co. are the true once to blame for the coming Greater Depression. And know this, no Republican will hold office for the next decade. Everyone knows the amount of damage these war mongers have cost us.
I worked at a convenience store during college 10 years ago.
Tank of gas, 6 pack of beer, and a pack a cigarettes were under $20.
Today those cost over $50.
Since that time wages have increased around 50% compared to cost of goods at 150%.
I don't know what the situation will be in another 10 years but I'm thinking Great Depression version 2.0
It was definately under a dollar in Utah. They have really cheap gas there.
Funny, how we get two oil men in the White House, and prices just go up and up.
"something that happens after global cooling with, or without the help of the human race."
So we should promote more global warming as fast as possible on top of whatever natural effects are at play?
That is monumentally poor logic. You might have a point about increased domestic drilling, but as I understand it, that will help only a little. We're painted into a corner, or so it seems.
Anyone who doesn't voted for Osama is a rabid racist. Yep
People asking for $5/$10/$20 per gallon gas think they are OK because they don't drive are in for a RUDE AWAKENING. The price of EVERYTHING will go up. Oh, but I'm sure you have a bunker with 10 years food/water supply, a paid off home, a collection of guns, a hot wife, and a 12" dick.
We need to get OFF of foreign oil. Sustainability should be the new mantra. This country has the technology - we should be able to run the bulk of our cars/SUVs and homes on solar/wind/hydro power. Sure it can't be done right away. Sure we can use our vast coal supply to help offset it until it's built up. Sure we can use oil in the mean time. Sure planes, trains, and trucks will still be using diesel for quite some time. But it SHOULD be done even if the cost is high. The pay off is HUGE! Let China/India drink themselves silly with it, they will reach what we have - an economy DEPENDENT on oil.
Suggestions for people of the same mindset as me :
1. Replace all bulbs with CFL/LEDs.
2. Recycle...and try to buy items that can BE recycled, like glass containers.
3. Conserve power, it's easy.
4. Conserve water, it's easy.
5. Stop using plastic bags - many grocery stores will give you a take home bag you can reuse that are just as good. Don't want to? Use paper bags, at least they are biodegradable/recyclable.
6. Drive conservatively - doesn't matter what kind of car you own, drive it right, and you will gain on gas mileage.
All the above is basically painless too and will PAY YOU BACK in the end. I swear, if 20% of America did this, we'd be in much better shape.
"Prices at the pump in that region have been topping $2 a gallon, much higher than the national average of around $1.50 a gallon."
$3 today, $1.50 in 2000. 100% increase 8 years is 8% a year. Not exactly earth shattering.
GAS WAS (IS ALWAYS) LOW IN THE SOUTH $1.15 to 90 cents per gallon,
WHILE UP NORTH, IT WAS $1.39 - $1.59 per gallon in 1998
1998 - .90 cents to $1.59 Nation-wide.
He is so used to having his head up his ass he must have come up for air.
Can you think of a worse human being?
You're talking about the shills Frank and Ed, right?
If you're still defending Bush and Cheney after all their atrocities, you should be shot. This country doesn't need people like you.
I heard a puppy died today.
Must be Bush's fault.
Oh my oh my, it seems that all the toothless inbred hicks came out of the woodwork for this thread. The so called, "Ugly Americans", as they are referred to and so hated around by the entire world. These hicks never add anything to America, just live as a leech. For example, Frank got his a$$ kicked in RED STATE Arizona with the real estate ponzi scheme, and then escaped to the most liberal state in the country, California. Frank arrived in the state begging for liberal California to give him a chance to eat again. Now that California did him a favor, he bashes the state. Typical Republican. Hey Frank, be a man for a change and go back to your POS state of AZ.
The self-righteous, brain-dead neoCON supporters need to get a clue.
Hey, ASSHOLES, thanks a lot for destroying the USA!
God Bless the Petroleum/Military Industrial Complex!
Got Guns??
Got Big Debts??
Enjoy your trip to hell - you've earned it...
Gas prices in Santa Monica were around $0.80 in 1998. Don't believe a word the evil Republican parasites say here.
Thank god no Republican will be ever elected for president again. Have you seen the gigantic Democratic turn outs during primaries? Have you seen that in the special election to replace retiring House Speaker Dennis Hastert, R-Illinois, Democrat Bill Foster beat Republican Jim Oberweis?
You Republicans are history. Enjoy.
Democrats never hang out with arabs...nope not at all. I guess Keith missed these pics when looking for the BUSH IS EVIL pics.
Keep at it QWEEFIE and all of QWEEFIE's followers. Keep voting for the Democraps, nothing but good can come of it.
http://tinyurl.com/2nbkgf
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http://tinyurl.com/yrvoy3
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The geniuses Frank and Ed love to pay $4 gas and trillions to rebuild Iraq from their own pockets. Pay up, suckers, since you voted TWICE for it:
Senators: Where is Iraq's oil money going?
BAGHDAD, Iraq (CNN) -- Two senators are asking congressional investigators to look at Iraq's oil revenues and see if the war-ravaged nation can pay for its own reconstruction, an effort that has been bankrolled to this point mostly by U.S. taxpayers.
Carl Levin, D-Michigan, and John Warner, R-Virginia, said in their Friday letter to the Government Accountability Office that Iraq has "tremendous resources" in banks worldwide but is doing little to improve security and reconstruction efforts.
Iraqi officials did not immediately respond to the senators' allegations.
"We believe that it has been overwhelmingly U.S. taxpayer money that has funded Iraq reconstruction over the last five years, despite Iraq earning billions of dollars in oil revenue over that time period that have ended up in non-Iraqi banks," wrote the senators, who are their party's top members on the Armed Services Committee.
Using numbers from the U.S. State Department and Iraqi Oil Ministry, the senators said Iraq hopes to produce 2.2 million barrels of oil a day this year. Weekly averages suggest that the number has climbed as high as 2.51 million barrels a day.
That kind of oil production could earn Iraq a projected $56.4 billion this year, an estimate the senators say is low given the rising cost of crude.
"In essence, we believe that Iraq will accrue at least $100.0 billion in oil revenues in 2007 and 2008," the letter said.
http://tinyurl.com/25wwyf
Very simple for the sheeple to understand:
Two Republican oilmen in the White House = Gas prices to the moon.
I used to be able to buy an ice cream bar for 10 cents when I was a kid. Now it costs almost $1. That damn Bush and Cheney. They are also in control of the ice cream industry, gold industry, silver industry, zinc, nickel, copper, steel and all the other raw materials and natural resources industries. If you don't believe that, then you are a shill for Bush. Hell, Microsoft stock used to cost 25 cents a share and now it's $30. Damn those rich people making money off us.
This isn't a supply problem so forget about drilling in Alaska, Florida, etc. Prices rise when supply increases, and rise even more when supply goes down a tiny fraction of a percent. This is Bush/Bernanke's fault for trying to inflate us out of yet another economic nightmare caused by excessive Republican deregulation and reckless Republican corporate welfare via irresponsible wars, unchecked expansion of powers and ill-conceived privatization of public functions.
Environmentalists aren't responsible for any shortage of refineries. If you sold a product with a guaranteed demand and had to choose between pouring billions into building and maintaining factories or spending nothing and then simply jacking up your prices whenever one of those factories had to shut down, what would you choose? Oil companies have absolutely no incentive to build or properly maintain refineries. Nationalization might fix this problem, but of course, that would be baad. Baah, baah.
Conservatives are just too dumb to live. I wish we could ship them all off to Mexico or Romania, or any of the other failed nation ruined by neo-liberal governance, before they destroy this country for good.
Obama a socialist? Oh fuck off already. Bush's giveaways to the treasonous corporations that now control our livelihoods is the very definition of socialism. Republicans (and many Democrats) have been selling off our country bit by bit to the lowest crony bidder for most of the last decade. When the other half comes out of their brainwashed talk-radio fueled haze and stops defending these greedy, rapacious traitors, we win.
The War in Iraq has caused the price of crude oil to rise quite a bit. It is a war primium, just look at the price before the war started. ($25/ barrel)
The war has also been responsible for the weakness in the dollar. The falling dollar has caused the price of oil to become a hedge, which is the main reason for the high price today.
Both of these factors are within Bush's control.
Why can't we drill here.....environmental protection laws = imported oil = higher costs to consumers.
What an idiot. You are unaware of the billions in tax dollars given to oil compaines to drill here? Explain that.
everyone knows that when the republicans win it is a rigged elcetion and there was a conspiracy. when the democrats win it was a fair election and the people's will.
I heard a puppy died today.
Must be Bush's fault.
DAMN THAT BUSH. I'M FROTHING AT THE MOUTH NOW.
If you're still defending Bush and Cheney after all their atrocities, you should be shot.
Spoken like a true fascist - I mean Democrap
Excuse me her but the TRUE value of an oil barrel is now at $53 dollars!
And here is the rational: When the Euro was enabled in 200, the rate was $1= 0.89 E
Now the dollar is at 1.52 per Euro, that is what OPEP countries are getting back in real acquisition power.
Then: Bush was NOT ELECTED the first time, he was APPOINTMENT thanks to a dubious supreme court deciscion.
But you are right: Fool me once, shame on you, fool me twice...shame on Michael Moore and his movies?
I remember soon after I bought my Ford Explorer in 1998, I did a little road trip with my wife to Southern New Mexico right around new years 1999.
I filled up in Socorro, NM for $0.699/gallon. That was the lowest it ever cost me to fill up my SUV.
Jymkata
Did King Fahd give George the tongue?
It is official. The only people left defending Bush are truly the dumbest of the dumb.
Oil went from $17/barrel to $106 under Bush...the guy who told us all he had a great relationship with the Saudis.
Oil has gone nuts manly due to Bush's weak dollar policies and his worthless war.
I just did my part to conserve. In the Durango I just bought for my wife (paid cash out of housing proceeds), we went with the small V8 instead of the Hemi.
We might drive 6000 miles in it this year, so if gas goes to $10 gallon it might hurt a bit. We are within 4 miles of everything, so we can easily cut back if we had to.
For people who think that they are smart because they understand it is not just gas that will go up in dollar terms but everything, you need to understand that it is not going up in gold or silver terms. Funny how that works. I will be interested to see how my Novagold shares do in the next few years.
LOL is that the best your Democrats have? Continuing to blame Bush for high oil prices when we haven't built a refinery in 30 years because of tree-hugging environmental wacked out democrats.
This is the typical moronic partisan response. Look dumbass, many of us that criticize and HATE Bush are Republicans too. Stop jumping on the frickin party boat you stupid frickin tosser.
QUESTION..
QUITE A FEW OF YOU WHO VOTED FOR CLINTON/GORE TWICE...
VOTED FOR BUSH IN 2000...
WHAT IN GOD'S NAME WERE YOU THINKING..OR DRINKING???
Remember the Gore-Bush debates in which Gore walked back and forth in front of Bush while Bush was sitting on a stool and Gore reminded the audience that "if you want to return to high budget deficits, high unemployment, and an incoherent foreign policy..THERE'S YOUR MAN RIGHT THERE!!
ONCE AGAIN...AND YOU KNEW BETTER..
WHY DID YOU CHOOSE THE CANDIDATE WHO FULFILLED GORE'S WARNINGS?
Worldwide car/truck/bus production:
2000: 41 million
2007: 72 million
What do you know, demand for gasoline almost doubles and so does price. Shocking I tell ya, just shocking.
Nah what am I saying, it's all Bush's doing.
For people who think that they are smart because they understand it is not just gas that will go up in dollar terms but everything, you need to understand that it is not going up in gold or silver terms. Funny how that works. I will be interested to see how my Novagold shares do in the next few years.
My last check came in dollars, not gold. Funny how that works.
Maybe you received 8 years of pay back in 2000 and put 10% of it in gold, so gas hasn't "gone up for you"? Or maybe you are one of the magic few paid in gold? LOL!
I know you gold guys are happy oil isn't up in gold, but please be realistic.
I used to be able to buy an ice cream bar for 10 cents when I was a kid. Now it costs almost $1. That damn Bush and Cheney. They are also in control of the ice cream industry, gold industry, silver industry, zinc, nickel, copper, steel and all the other raw materials and natural resources industries. If you don't believe that, then you are a shill for Bush. Hell, Microsoft stock used to cost 25 cents a share and now it's $30. Damn those rich people making money off us.
Wow, a dimwitted ditto-head half gets it.
There's a word for all of those price hikes, and it's called inflation. We've seen rapid inflation in commodities and energy over the past few years because Bush decided to pay for his wars and tax cuts for the rich by printing lots more dollars, making the ones already in existence worth that much less.
Inflation effectively acts as a tax on the poor and middle class, except politicians don't have to call it a tax. They can just sit back and pretend that it's the result of magic forces beyond their control. "Deficits don't matter" as Cheney famously said. Meaning the ditto-head drones don't pay attention to the termites in the basement until the walls start to collapse around them.
Oddly enough, the lack of refineries was the initial reason as to why gas prices were increasing.
Now Georgie boy is trying to talk OPEC into increasing production to help gas prices.
Riddle me this Batman, if we haven't increased our capacity to refine, how is pumping more oil going to have an impact?
Definitely price fixing, shell games etc.
I also wouldn't be too surprised if the rise in commodities (wheat, soybeans, etc) has more to do with banks and investment houses playing games to offset the housing bubble losses.
Remember how energy shot through the roof in California when Enron was cooking the books.
Just my humble opinion for what it's worth.
Worldwide car/truck/bus production:
2000: 41 million
2007: 72 million
What do you know, demand for gasoline almost doubles and so does price. Shocking I tell ya, just shocking.
Nah what am I saying, it's all Bush's doing.
Supply and demand has nothing to do with commodity prices. Stop trying to use logic. We know it's all rigged, just like the 2006 elections that were stolen.
It's now official, everything negative in the world is Bush's fault and it all ties back to Iraq somehow.
How come nobody will explain why gas is more expensive in Europe than in the US? Do they have oilmen running their countries too?
Milk was what, under $2 10 years ago? Now it's $4+. BIG MILK!!
Gold was $300, now $1000, BIG GOLD!!
Wheat was I don't know but it's up like 500%. BIG WHEAT!
The Euro was 88 cents under Clinton, now $1.53. BIG EURO!!
Price of copper is up, what like 400%? BIG COPPER!
Who knew Bush was so friendly with all these corporations he let them raise their prices?
Gas was 37 cents a gallon in the early 1970s...$1.40 when Carter was leaving office. Who knew he was so friendly with oil companies he let them raise their prices!
Can you see the logic here? Does a president set the supply/demand curves? The dollar is shot which made oil prices rise, as well as gold, but I don't blame bush for ALL of that.
Oddly enough, the lack of refineries was the initial reason as to why gas prices were increasing.
Now Georgie boy is trying to talk OPEC into increasing production to help gas prices.
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I respect your humble opinion, but dude you have to wake up to reality. First of all Peak Oil is here and while there may be some that say it isn't, i'm pretty sure it is here. That means two things, Oil will continue to rise as it has been doing. The world economies will no longer grow until a new cheap energy source is found. That means the world economies are now going to begin entering world recessions that may last from 10 to 15 years, until a new cheap energy resources are found that can allow the world economies to pick up again.
I know you gold guys are happy oil isn't up in gold, but please be realistic.
Being realistic is owning companies that are producing something other than financial wizardry.
Being realistic would also be understanding that the gold mining companies hold far more profit potential than the metal itself, depending on their leverage to the price of gold. For instance, I bought Bema at .50, Northern Orion at 1.90, and Desert Sun under $2 as well. I think I bought some Seabridge for less than $3 and sold not too much later for 3.80, thinking I was a great trader. Review it's price today to determine if this is the case. All of these companies went up from 3-10 times from where I bought in. So yes, if I had put in 10% of my income directly into a couple of these companies, it would have been like living off the profits.
I have some gold, silver, uranium, iron, and rare earth mining shares. I am thinking that maybe I want to look at the moly companies again as well.
I am not a financial professional, but I have read a few that have said that diversification is a prudent financial strategy. And yes, I know having different companies mining different metals is not true diversification, but it is what makes sense to me.
It it rained this morning on my way to work causing a big traffic jam.
DAMN THAT BUSH!
Worldwide car/truck/bus production:
2000: 41 million
2007: 72 million
What do you know, demand for gasoline almost doubles and so does price. Shocking I tell ya, just shocking.
except that demand for oil has not doubled in the past 7 years. Demand has risen less than 10% in that time.
http://omrpublic.iea.org/world/wb_wodem.pdf
It it rained this morning on my way to work causing a big traffic jam.
DAMN THAT BUSH!
Bush's oil buddies caused that rain through global warming.
First of all Peak Oil is here and while there may be some that say it isn't, i'm pretty sure it is here. That means two things, Oil will continue to rise as it has been doing.
You must be a Rethug Nazi Bush lover. Oil prices have nothing to do with supply/demand economics.
Uranium prices are up 500% the past few years. BIG URANIUM
Bush has been granted omnipotent GOD status among the loony lefties.
Just wait until we shut down all the American oil companies and depend on the Saudis and Chinese to provide us with fuel. I'm sure they'll be real nice and give us lower prices.
Every commodity is going up value. If Bush is getting "blamed" for oil prices, then I assume you are giving him "credit" for gold prices going up. In case you were not aware, OPEC & Russia control the price of oil. You are clueless if you think that the US federal government controls the price of oil.
You must be a Rethug Nazi Bush lover. Oil prices have nothing to do with supply/demand economics.
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Dumb A*S, of course it does, you sound like an idiot. Supply and Demand will always control prices. Let me guess a true Left Winger nut case that believes 911 was cause by the United States. Dumb A*S!
Every commodity is going up value. If Bush is getting "blamed" for oil prices, then I assume you are giving him "credit" for gold prices going up. In case you were not aware, OPEC & Russia control the price of oil. You are clueless if you think that the US federal government controls the price of oil.
What part of Bush's dollar devaluation don't you understand. Gold is not our national currency, the dollar is. When gold goes up, that means our dollar has lost value. For the love of god, why should Bush be given "credit" for making our money worth much less than it was when he took office? I hope some stupid right-wing think tank is paying you to post, cause even at $.50 per, they're getting hosed.
This is OIL CO just trying to get the last $$ before the coming depression.
Just wait, 33% of the US is out of work....gas will be below a 1$
Worldwide car/truck/bus production:
2000: 41 million
2007: 72 million
What do you know, demand for gasoline almost doubles and so does price. Shocking I tell ya, just shocking.
except that demand for oil has not doubled in the past 7 years. Demand has risen less than 10% in that time.
http://omrpublic.iea.org/world/wb_wodem.pdf
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I guess all the new cars are getting 100MPG.
Another lie on a blog....what else is new?
Its not the Arabs charging the high prices its the Middlemen the exxon mobils, shell oil etc. of the world. You toothless white trash hicks are morons when it comes to oil and gas and the Middle East. Besides its the neocons and the PNAC crowd who are to blame for why we are in Iraq and Iraqi oil will be pumped from Mosul to Haifa...go find that on a map friggin gullible stupid dumbasses.
I guess all the new cars are getting 100MPG.
No you dumb fuck. Most of the new cars are replacing older vehicles which are going to scrap.
You Bush apologists sicken me with your willful ignorance.
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