Don't Blame OPEC; Higher Gas Prices Are Almost Entirely Bush's Fault

[NNN0LHI]

http://www.ilcaonline.org/modules.php?op=modload&name=News&file=article&sid=2193&mode=thread&order=0&thold=0

What is making oil so expensive is not energy policy or even SUV’s, dangerous as those are for the environment. It’s Bush’s massive deficits and his willful destruction of the US dollar that has gas selling at $2.30 a gallon and rising.

There's been a lot of hand-wringing going on among economists and politicians, and a lot of fuming at the gas pump by consumers over the soaring price of oil over the last two years.

Increasingly, concern is being expressed by treasury officials and economists about the negative impact soaring oil prices and related gas prices could have on the overall economy. Politicians--especially Republicans--are also fretting, since the thousands of extra dollars consumers are now spending on electricity, home heating and gasoline have, for all but the wealthiest taxpayers, more than cancelled out any minimal benefits they saw from the president’s tax cuts.

What's wrong with this picture?

The focus of all this anger and angst is oil prices. As a result, everyone is looking at culprits in the wrong place, blaming wasteful energy use, OPEC production quotas, monopolistic oil companies and/or conniving oil traders.

In fact the real culprit behind these higher oil prices is the Bush Administration, which, thanks to its massive deficits and tax give-aways to the rich and corporations, to its war spending, and to its failure to combat unprecedented and ever-larger trade deficits, has been causing the dollar to plunge in value.

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When Lou Dobbs begins talking about this he "may" gain back some of the credibility he has lost with me. Come on Lou. I am sure you know about this. Why don't you ever talk about it? Illegals, illegals, illegals.

[B Calm]

1. Tell that to the right wing lunatics who thought voting for an oil

president would mean cheap gas..

[wtmusic]

3. Go figger

I guess the country has to self-destruct before anyone decides they want to pay attention.

May they pay their share at the pump.

[truth2power]

4. Reminds me of what a friend of mine said

shortly after the Boy-King's first selection...I was having a rant abouy how Bush/Cheney were criminals, and she said "Well, at least they know about oil".

Yep...they sure do! :eyes:

[Jacobin]

2. Don't forget IraqNam

They used to export 2 Million bbls a day. Now there is practically no export since the Iraqis seem reluctant to let us steal their oil and keep blowing up the pipelines

[hadrons]

6. Also Dumbya is filling up the strategic reserves to the brim ...

customers and businesses have to compete with the U.S. gov't oil buying too

[Coastie for Truth]

5. Half Right - Therefore NO Cigar

1. The Bush de facto devaluation of the dollar is A factor.

2. A shrinking amount of crude in the ground is also A factor (it's called "Peak Oil") - and the aging of refineries to cope with the increasing demand is also A factor.

3. Increasing competition for that shrinking amount of oil - by India, China, etc. - is also A factor.

Confluence of three factors.