Nigerian Oil Strike

Charles Jannuzi b_rieux at
Fri Feb 14 22:51:35 MST 2003

This is precisely what oil capital wants.

They want a high price for oil sustained over at
least the next 2 years.

George Bush could release oil from the strategic
reserves--or even oil from a second reserve few
know about but is about the same size--but won't,
even as futures markets push the price of oil
well over $35 per barrel. In fact, King George
has ordered that still yet more oil be taken off
the market and put into those reserves (if you
don't know this then you haven't read his energy
plans and budgets). And the oil companies are
busy in Washington making sure some populist
Congressman doesn't get the fool notion that oil
ought to be released to take the heat out of the
oil price bubble.


Self-interest for a start. Bush-Cheney-Rice and
others' oil-construction-defense/federal
services-private equity mafia don't want cheaper
oil. Nor does US domestic oil or big global oil.
For a start, the single best way to have a
post-Hussein Iraq pay for US occupation and
'reconstruction' would be to have a high price
for oil lined up.

The bets already made: that those who have
properly hedged and better placed their capital
will be ready to profit in the next 2-3 years of
economic distress, bankruptcy, war, civil unrest,
'geostrategic realignment'. Much of the betting
requires a high price of oil, which is one of
capital's most effective ways to tax the economy
for its own benefits.

Recommended reading

Charles Jannuzi
Fukui, Japan

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