Friday, March 16, 2012

The world is afloat in oil.....

Speculation and politics are the reason We are going broke paying for gas so Oba mama and his buddies make out like bandits. Remember Gore made millions off of the global warming fraud so why shouldn't Oba mama get in on the action.

Of course, if he isn't then he's stupider than a box of rocks!

The Oil Card - Global Economic Warfare in the 21st Century, by Jim Norman
Challenging the conventional wisdom behind oil pricing, this compact book sheds an entirely new light on the workings of "free" commodity markets and oil industry supply and demand "fundamentals." Its purpose is to look at the use of oil as an economic weapon.

The book assembles a now well-documented chronology of how the US and its allies, including Saudi Arabia, pushed down oil prices dramatically in the 1980s, and kept them low for a decade. It was a concerted and stunningly successful effort to break the former Soviet Union by depriving it of desperately needed hard-currency income.

It then raises the question whether those same price-control levers have lately been pushed in the opposite direction to rein in another target: the oil-short Peoples Republic of China. Contrary to popular perceptions, media commentary and official explanations, the book methodically lays out the geopolitical logic and the market mechanisms behind the stunning 12-fold run-up of oil prices from 1998 to mid-2008. It also offers an explanation for the sudden price drop from almost $150/barrel to under $100 as Russia again flexed its muscle by invading Georgia.

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