Oil prices: An election connection?
In the short run, Michael Waldron of Lehman says, pump prices will continue to rise, but beginning at the end of 2008, new refineries will start coming online in the Middle East, China and India, taking the price per barrel to about $83 in 2009, then as low as $70 in 2010. In this election year, this is an important point considering the mileage Democrats have gotten and hope to continue to get out of blaming President Bush and his supposed oil connections for our current situation. Terrorists not only have access to large bank accounts courtesy of wealthy supporters in Saudi Arabia, Syria, Iran and other oil-rich countries, but they have used wealth as a tool to manipulate the media and politicians via front groups and lobbyists, in this country and others. Obama has spent a good chunk of his campaign denying that he is Muslim or has any connection to radical Muslims, yet Hamas has made it clear who the world’s terrorists are rooting for in the presidential race. And the politicians just go along as dupes, willing or otherwise, occasionally making a show of calling for an investigation of oil companies, which own only 9 percent of the world’s oil fields and make about an 8 percent profit. And now we’re facing record oil prices that are predicted not to ease until after the election, in large part due to Middle East funds. read more
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