Wed
Feb
27
Blood for oil?
The main culprit is rising crude oil prices, which topped $102 a barrel Wednesday. In play are big-ticket issues like international tensions from Venezuela to Iraq, the weakening U.S. dollar and reports that the Federal Reserve will cut interest rates - a move that encourages energy speculators to pay more for oil and gas futures as a hedge against inflation - and which raises oil prices.
— Mercury News, 2/27/2008
I have a confession. I was one of the people that thought that Bush invaded Iraq so the US could have cheap oil.
If so, it seems that he can’t even do that right.
