Iraq War May Have Increased Energy Costs Worldwide by $6 Trillion

Iraq War May Have Increased Energy Costs Worldwide by $6 Trillion

www.alternet.org

The invasion of Iraq by Britain and the US has trebled the price of oil, according to a leading expert, costing the world a staggering $6 trillion in higher energy prices alone.

The oil economist Dr Mamdouh Salameh, who advises both the World Bank and the UN Industrial Development Organisation (Unido), told The Independent on Sunday that the price of oil would now be no more than $40 a barrel, less than a third of the record $135 a barrel reached last week, if it had not been for the Iraq war.

He spoke after oil prices set a new record on 13 consecutive days over the past two weeks. They have now multiplied sixfold since 2002, compared with the fourfold increase of the 1973 and 1974 "oil shock" that ended the world's long postwar boom.

(visit the link for the full news article)

Way to go george!!!

Don't ya just love this administration?

www.alternet.org
(visit the link for the full news article)

They want to curb technological progress. They want to stop 3rd world nations from industrializing. They want to eliminate population growth, or reverse it. They want to prevent other people from consuming "their" resources.


... And if controlling the price of oil is a good way to do it, you can bet that's what you'll see.

Kind of a no-brainer realisation by the person who wrote the article.

Its about time people started waking up to the very harsh realities of being gung-ho with bad intel, accusations and smart bombs.

Bush's legacy is a simple one. He blew the sympathy of the world garnered after 9/11 by invading a country that had nothing to do with it (Iraq) and, as a result of his policies may have effectively pushed oil prices past the point of no return.

And yet everyone still takes it...

No balls from anyone.. We sit here and talk talk talk, and never do do do..

Interesting that..

In case you are wondering, since gas has been over 3 bucks I have not driven once.

They make bunch of bucks, and they don't care bout others...hmm wonder what made them change their mind from there :

Perhaps its better this way, we know that its going to go up sooner or later. Better to face it now instead of later. High prices may push things when people didn't notice while gas prices was low at the time. With China and India consuming more and more, need to look at alternatives sooner than later.

Originally posted by deltaboy
Perhaps its better this way, we know that its going to go up sooner or sooner than later.

Why wasn't there any warning? Why leave the small businessman like myself holding the bag? Truckers should have been notified!!!

I think this is just like Lou Dobbs said "A war on the middle class"

while the oil companies and mega corps. get taxpayer subsidies and the little guy gets the ****** end of the stick.

Perhaps it is better this way if, you feel, a nation should be run this way. then you probably will vote a straight GOP ticket, the oil company whores, otherwise......






[edit on 27-5-2008 by whaaa]

Finally a viable yardstick by which the Administration can claim that the Iraq war is an unqualified success! /sarcasm

Funny how an administration filled with career oilmen--Condi even had a supertanker named after her--sees oil shoot up to such unprecedented price levels due to their policies.

Knock me over with a feather.

Well this is a wonderful way to start WW3. Our war could bring the rest of the world to the brink of destruction. This is profiteering at it's best people. I don't want to know what it's like at it's worst.