Oil price sets new record

of $129 per barrel. When Osama bin Laden announced a decade ago that Muslim terrorists would jack the oil price to $115, everyone derided him as madman.
Thanks to the US invasion of Iraq, the oil price predictably keeps rising. There is no economic reason for the oil price hike: Iraq’s official output is stable, black market shipments from Kurdistan are on the rise, and world’s demand is not soaring. The increase of oil price is entirely attributable to speculators who exploit popular uncertainty over Iraq and Iran.
America’s clients: Kuwait, Iraq, and Saudi Arabia do nothing to stem the skyrocketing oil price. Instead, they enjoy immense profits - and spend them for American weapons. US oil corporations - Bush’s greatest friends - also enjoy windfall profits. As long as rising oil price does not threaten recession in America, Republicans need not fear voters’ anger.
All of this makes the US attack on Iran still more likely, as it can easily double the oil price.