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View Full Version : Another "War" without End:OPEC blames 'mismanaged' U.S. economy for soaring oil price




kimo
03-06-2008, 01:54 AM
OPEC blames 'mismanaged' U.S. economy for soaring oil prices

http://upload.wikimedia.org/wikipedia/commons/5/55/OPEC01.jpg

Published: March 6, 2008

OPEC, rebuffing calls from U.S. President George W. Bush to increase oil output, cited "mismanagement" of the American economy as a major factor driving prices up.

Record prices are suddenly creating the sharpest tensions in years between the oil cartel and the United States, the world's largest oil consumer. Two days after the president called for more oil on the global market, OPEC members, meeting in Vienna, Austria, chose to leave their production levels unchanged, declaring that the market has plenty of oil already.

The cartel's president on Wednesday blamed financial speculators and American economic problems, which have helped lower the value of the dollar, for the high oil prices. After the meeting, oil prices settled above $104 a barrel, a record...

http://www.iht.com/articles/2008/03/06/business/06oil.php

Pauls' Revere
03-06-2008, 01:59 AM
Oil jumped $5.00 in one day and it hardly made news!
http://www.congoo.com/news/2008March5/Oil-roars-record-near-OPEC
btw Dubai may not bail out Citigroup/bank afterall. Its a wait and see.
:(

smartguy911
03-06-2008, 02:35 AM
I wish i had $100,000, so i can buy my tesla and go zoom zoom without wasting money on gas - http://www.teslamotors.com/

kimo
03-06-2008, 04:56 PM
Yea right. He blame OPEC, and now he blame "too many houses"

Thursday, March 06, 2008
BushCo. On Iraq : The American People Can Go To Hell

Bush Blames "Too Many Houses" Not War Spending For Destruction Of US Economy


The Bush administration says the 2002 congressional authorization to go to war in Iraq gives it the authority to conduct combat operations in Iraq and negotiate far-reaching agreements with the current Iraqi government without consulting Congress.

The assertion, jointly made Tuesday by U.S. Ambassador David Satterfield and Assistant Secretary of Defense for International Security Affairs Mary Beth Long, drew an incredulous reaction from Democrats on a Joint House committee during a hearing on future U.S. commitments to Iraq.

“It's the view of the administration that as long as there’s trouble in Iraq that you have authorization of this Congress to continue there in perpetuity and define trouble as you desire?” asked Rep. Gary Ackerman, D-N.Y.

“We have authorization to defend the national security of the United States against the continuing threat posed by Iraq,” Satterfield replied. “The situation in Iraq continues to present a threat to the United States.”

It does? Iraqi's few remaining Al Qaeda-allied militants are plotting to attack the United States are they? Or does BushCo. classify attacks on oil infrastructure as "a threat to the United States"?

As far as BushCo. is concerned, Congress - that is, the congress of the American people - might as well not even exist.

UPDATE : In a bizarre recent interview, President Bush explains why blowing trillions of dollars on the Iraq War is not to blame for America's sinking economy :

CURRY : Some Americans believe that they feel they’re carrying the burden because of this economy.

G. BUSH: Yeah, well…

CURRY: They say we’re suffering because of this.

G. BUSH: … I don’t agree with that.

CURRY: You don’t agree with that? It has nothing do with the economy, the war — spending on the war?

G. BUSH: I don’t think so. I think actually the spending in the war might help with jobs.

CURRY: Oh, yeah?

G. BUSH: Yeah, because we’re buying equipment, and people are working. I think this economy is down because we built too many houses."


Which is worse : that Bush actually believes this, or that he is lying through his teeth?

Posted by Darryl Mason at 6:52 AM
Labels: American economy, Iraq War, President Bush

http://yournewreality.blogspot.com/2008/03/bushco.html

acptulsa
03-06-2008, 06:28 PM
The worst part is that enough American voters cast votes for this clown that his brother and Karl Rove could steal the rest.

Paulitician
03-06-2008, 06:35 PM
I don't think it's the war alone--afterall, we're not the ones mainly paying for it (yet)--but a mixture of so many economically stupid things like the war. Mostly it's the falling dollar.

kimo
03-06-2008, 07:28 PM
I don't think it's the war alone--afterall, we're not the ones mainly paying for it (yet)--but a mixture of so many economically stupid things like the war. Mostly it's the falling dollar.

OK. Look at this youtube clip from 1988!!! with RP..both pt1+pt2
And Americans still vote for the "next evil". I just don`t get it:confused:
20 years!!!
http://www.youtube.com/watch?v=IHB2I83_N_k