weeklystandard.com — Thanks to three Democratic senators, China will be pumping Iraqi oil. Why? Because they intervened in Iraqi domestic politics earlier this year to prevent Iraq from signing short-term agreements with Exxon Mobil, Shell, Total, Chevron, and BP.
Sep 17, 2008 View in Crawl 4
smartfuldodgerSep 17, 2008
The reasoning behind this article has some fundamental flaws. The author claims that giving short-term contracts to multinational companies would lower fuel prices for consumers. However, even a rudimentary understanding of economics and the oil industry proves this wrong. Oil prices go down when the global supply increases (or demand decreases). It doesn't matter if the US, Iraq, or China is pumping gas - the price effect on us consumers is the same.Furthermore, the three Senators who wrote letters to Bush did so in consideration of global warming legislation. The fact that these three Senators had the intellect and foresight to use the US's massive market power toward a positive change is incredible! Of course, Bush ignored the letters (as he has ignored global warming). The contracts were lost not because of "scary liberals", it was lost because the Chinese offered a better contract. So in fact, the contracts weren't held up by Democrats at all.
smartfuldodgerSep 17, 2008
The shareholders do.Beside, we aren't talking about corporate profits. We're talking about where the oil goes. The guy above me seems to think the oil is going to the Chinese.
kjeffvSep 18, 2008
Oh, I'm sorry! I foolishly did not realize I was dealing with an insistence upon remaining obtuse. I'll type slowly, `K?RiNOs = Republicans in Name Only"A relaxation of common sense BUSINESS RULES...." Read/comprehend ALL the words; IE—you DO undrstand "IE," do you not? ["that is, to say"]—conservative fiscal mgt . . . er, "management" for you-for-whom-English-is-your-second-language.You are evidently completely foreshortened in the history-of-economics department; I'll attempt to bring you up to speed quickly: In 1913, a gaggle of super-elite world bankers got together—not too far from where I'm sitting, in fact—and decided on the Ponzi scheme that is, unfortunately, still our US financial system today. THIS plan, along with the natural greed of humankind, were the two factors contributing to the crash. These guys were NOT conservatives, by the bye."De-regulation" means "lack of government oversight/intrusion/control." The US, especially since `13, has ALWAYS headed towards MORE government control overall—not less.The Treasury Secretary & the Federal Reserve, which is neither "federal" nor has a "reserve," are PRECISELY the reason we're in the financial briar patch we're in. THEY dictate policy to everyone else—not the other way around.Do some serious reading, for crying out loud. Plain enough?
Closed AccountSep 18, 2008
LOLRightard morons think that Iraqi oil is just for America!Just when you think they can't get any dumber, they do.Even a big rightard rag like the weeklystandard fails.I guess that's because rightards are stupid and greedy no matter where you go.Notice the ONE thing this jackass author doesn't mention is the Iraqi people and what's good FOR THEM.Right wing scum thinks that just because we have bullied and beaten Iraq that everything they have is ours.It's a great demonstration of how low these right wing scumbags/cowards have sunk.
smartfuldodgerSep 18, 2008
Hey Jeff, no need for a hissy fit. I think we're both up to the task of an adult conversation.You claimed that the US government has headed toward more government control since 1913. This is true, up to the 1970's. But rollbacks in government oversight began occurring with Reaganomics. Bush Sr. and Clinton didn't do much to slow this down, and deregulation and free-market theory got a turbo boost under W. Bush. And now here we are - reaping the benefits of the right-wing economic philosophy.So what now? Well, we've seen free-market advocates- people like Greenspan, Henry Paulson, John McCain - turn around 180 degrees and call for more regulation. Republican pundits are saying this mess was caused by "regulators not doing their job", and "lack of transparency". Robert Cohen of the New York Times called this the "death of a culture".The consensus among experts today is that the free-market caused this crisis. If you want to argue that the free-market is the solution to this problem, that's fine. But realize you're part of this dying culture.