Tuesday, May 02, 2006
Coup D' Oil
The price of oil jumped to over $74 a barrel today. It seems world markets are a little jumpy with the "Decider" in the White House calling all the shots.
The Houston Chronicle reports the most recent hike was "amid fear that international pressure on Iran to modify its nuclear program may lead to supply cuts from the key exporter." And an eventual showdown with Iran.
In spite of the threat of sanctions, an Iran official said today that they would continue to enrich uranium.
Analysts expect energy futures to remain high, as traders keep one eye on issues abroad — Iran's nuclear program, rebels in Nigeria cutting off oil supplies, and the possibility of terrorist attacks on oil facilities — and another eye on problems on the home front, notably tight U.S. gasoline supplies going into the summer driving season.The U.S. is in quite a pickle. As Howling Latina has previously noted, no way, no how is Russia or China going to let the U.S. take over the oil fields in both Iran and Iraq.
Unlike liberal bloggers who believe the current administration is likely to start Armageddon and invade Iran, the White House is filled with hubris but someone in the party (like James Baker) will surely sit junior down and explain to him the facts of life.
So if higher gas prices are the cost for freedom, Howling Latina is all for it; that is, freedom at home. With oil prices increasing by the hour, rest assured Democrats will win control of both the House and Senate in the fall; and not a minute too late, we can only hope.
Unless...Bush cancels elections in November under some Wag-the-Dog pretext -- like attacking Iran.
Naah, he wouldn't dare, would he?!?