Saturday, August 28, 2004

Oil prices on the rise

What else is new? Good times for Condi and Emperor Shit-for-brains.

Saboteurs on Thursday attacked eight pipelines linking a southern oilfield to a pumping station near Basra.

...Oil prices stopped a five-day slide on Friday on renewed supply concerns after fresh Iraqi pipeline attacks outweighed an end to a three-week uprising in the city of Najaf.

U.S. crude inched 8 cents higher to $43.18 a barrel. London's Brent crude settled 31 cents stronger at $40.64 a barrel.

Despite Friday's tiny rise, prices are down 13 percent from last week's peak, when speculators began taking profits after prices failed to breach $50.

Crude prices are still up nearly 40 percent since the turn of the year on strong global demand and uncertainty in the Middle East.
Reuters article

War is good for speculators, defense contractors, and oil barons.

Private defense contractors have been given the authority to help prepare the president's national defense budget - another job the Department of Defense has outsourced.
War Profiteers article

Sweet.

....but hey, do what you want....you will anyway.




Graphic from Project for the Old American Century

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