Friday, March 7, 2014

Why We Did It - the unrated version

I'm sure a lot of us watched Rachel Maddow's report on why Cheney and Bush lied us into their criminal war in Iraq. We knew why 10 years ago. The report did flesh out some of the details and was well done but nothing earth-shatteringly new.

Daily Kos brought up some stuff I for one had not thought about. Worth a read.

MSNBC's short documentary titled “Why We Did It” that aired March 06th, 2014 was somewhat informative but mostly anticlimactic. The only people in this country who have never believed that these actions were about oil are either disingenuous for political reasons, or stupid.

A few simple facts:
a) Saddam Hussein was planning to switch to the Euro as his reserved currency, which would have had drastic effects on the value of the Dollar and the U.S. Economy. This is widely considered to be the prime motive for taking him out.

b) The spot price of oil bottomed out in 2002 at around $20.00 a barrel. By July 3rd, 2008, the spot price of oil had reached a peak of $145.31 a barrel. This upward trend tracks the progress of the war with an interesting parallel between a drop in Iraqi casualties in Jan 2008, the beginning of the Great Recession, and the sharp reduction in the price of oil after July 2008.

c)There is a bubble of record high profits by oil companies between late 2003 and 2008. Record oil profits track the war, not the peace.

They knew we had shale oil and that the infrastructure to extract shale oil was practically a pipe dream with oil prices at $20.00 a barrel. Meaning that the wars were not just a device for maximizing oil profits and the profits of oil tech companies like Halliburton but also a means to get the extraction infrastructure in place in the U.S. before demand from the new emerging BRIC countries would take hold.

The war wasn't to secure oil. it was about making the price of oil increase, both for sheer profit and to make fracking financially viable to make even more profit.

It's always about the Benjamins, dame Bush and Cheney's eyes.

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