Wednesday, April 26, 2006

How High Can Gas Go?

Pretty high when you have people like Bush and Ahmadinejad of Iran engaging in an apocalyptic pissing match. Now we have Iran's Supreme leader Ayatollah Ali Khamenei weighing in on the impending conflict.
"But, if the US ventured into any aggression on Iran, Iran will retaliate by damaging the US interests worldwide twice as much as the US may inflict on Iran."
This, along with threats to curtail Iranian oil production if the world hops onto Bush's Tehran Express, is driving up our prices more than anything. Commodity traders are always high strung and nervous types and when they see rhetoric such as this being thrown around nonchalantly by world powers there's going to be a reaction. In this case it is the higher petroleum prices that we are seeing.

Bush, ignoring the truth behind the matter as usual, is set to have more tax dollars wasted investigating nonexistent price fixing on the part of the oil industry. My guess is that George is a great fan of the "Wizard of Oz", since he obviously wants no-one to look behind the curtain and see that the cause of much of the rise in gasoline prices can be lain directly on his doorstep. You want prices to go down, folks? Tell Mr. Bush to shut the hell up where Iran is concerned. Tell the talking heads on the radio to shut the hell up and stop trying to be the next William Randolph Hearst. And tell your Congress to stop being a bunch of Socialists trying to rob the oil industry. Their profit margin is lower than most industries.

As long as Iran is on the Bush radar then we are going to see prices continue to soar. Add Nigeria's instability, deteriorating safety for oil workers and the increased odds of foreign intervention and things will continue to get worse. The next few conflicts aren't going to be about the so-called "War on Terror". They are going to be about oil, no matter what the Great And Powerful Oz Bush Administration says. When the price of doing business becomes too great and this country's economy goes into the crapper the Powers That Be are going to use the weapon of choice in their arsenal of "good governance". Force. History is unequivocal on that matter, especially where the current regime inside the Beltway is concerned. We will end up being this century's Japan....pick your own Pearl Harbour. My bet's on Iran and Nigeria.

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