The first time gasoline prices approached three dollars there was considerable outcry amongst the public. This time around, it's "old news." People may grumble quietly to themselves, but there's little or no media coverage and no public outrage. This is exactly how it's supposed to work. The oil barons know that people will get upset... the first time. Then, we'll get used to it.Did you notice how the price of oil surged to nearly eighty dollars per barrel when the Israel-Lebanon conflict erupted, even though there is no oil in either Lebanon or Israel? "Instability in the region," the media reported. Perhaps that's the real root cause of the conflict -- instability is good for the oil industry. Mr. Bush is an oil man. This new little war is padding his coffers; no wonder he seems disinclined to take steps to resolve the situation. In fact, my impression is that he is encouraging the Israelis to continue their agressions.
Why is Mr. Bush so outspoken against Iran? My belief: a goal of $100/barrel oil by the end of this year.
