War for Oil

[ahmadjee]

... was the theme of most people opposing US led war in Iraq, and rising prices in US was given as an evidence for Bush Administration’s urgency.

Here is a news flash, I pay 20% more than what I was paying for Oil a few months ago. And it seems in the coming weeks the price is only going up!

Well, if the war was about Oil, I sure am not getting my cut.

[underthedome]

Well since Iraq is still pumping under pre-war numbers there hasn't been any benefit to the U.S.

$35 a barrel, ouch.

[PakistaniAbroad]

ahmadjee since when is anything about the people?? the War may have been for Oil among other things.. but not Oil for your gas tanks.. but for the Oil comapany's profits.. and overall US control over the reserves..

[Kaleem]

Liek PA pointed out it's not for you or me, it is to control the reserves. You see US people can survive $2/gallon price, the rest of the world will pay more and that is where the profit comes in my friend. Control the supply and reap the benefits.

[ahmadjee]

I am still not convinced.

The oil prices are mostly dictated by OPEC and oil is traded in dollars. OPEC has raised the prices in face of a declining dollar by cutting down on production and raising demand.

Cheap oil for US was the theme for the first Gulf War, but NPR recently did a report that US companies getting Kuwaiti Oil contract before & after the first gulf war were pretty much the same. Kuwait has kept a very tight lid on its oil reserves and their business dealings haven’t changed.

If the companies are getting all the oil, they can't just keep it in their dumpsters and sit on 'em. They have to sell it to consumers like us ... and therefore I question, why am I paying so much for the gas???

[Ohioguy]

ahmadjee,

The price of oil is up, largely because the value of the dollar is down.