Thursday :: May 13, 2004

Oil Gamble Doesn't Pay Off

by Mary

Woodward revealed that Saudi Arabia would bring down crude oil prices in time to help the Bush campaign. So it wasn't too surprising to see that the Saudis were suggesting removing the limit set by OPEC nations last week so that more oil would flow to the world. Yet it turns out that the OPEC nations had been cheating and actually delivering more that they said they would, so there isn't much extra capacity left to bring those oil prices down. Ooops. And no, drilling in Alaska won't even start to cover our exposure and stablizing Iraq enough to feed the US oil habit looks a bit iffy these days as well. It looks like Chaney's energy plan was as well thought out as the administration's trial run for new world empire. Too bad we all pay for the mistakes.

Mary :: 12:32 AM :: Comments (11) :: Digg It!