Monday, November 19, 2007

So they want an "War" over Oil?

Politics overshadow gathering

Unlike Russia and China, President Hugo Chavez of Venezuela and President Mahmoud Ahmadinejad of Iran both are publicly Anti-America. Now, Chavez wants OPEC to "set itself up as an active political agent".

So, Chavez wants to take the US down by using Oil to hurt us? Not the most original idea, but a resourceful one. It's ashame one the the largest US oil suppliers disagrees:

While Chavez's 23-minute statement was brief by his own standards, it drew a gentle rebuke from King Abdullah, the Saudi monarch, who chided him for talking longer than the time allotted by royal protocol. He also turned down Chavez's plea, saying: "Those who want OPEC to take advantage of its position are forgetting that OPEC has always acted moderately and wisely."....

"OPEC has made a point, from its establishment, to work for the stability of the oil markets," said the Saudi foreign minister, Prince Faisal, at a news conference after the close of the summit on Sunday. "Oil should be a tool of construction and development, not one of dispute."

Ok, so Saudi Arabia is not onboard with the idea. Chavez had his say and we hear him loud and clear: Unlike Iraq, he wants a REAL War over Oil. Maybe President Bush doesn't sound so crazy when he says we need to get away from being so dependent on Foreign Oil. Maybe the US needs to start making major investments in other forms of energy and/or start drilling for oil in areas where we know there is oil to be found (Alaska, Gulf of Mexico, California, Montana to name a few). Until we do so, threats from people such as the Presidents of Iran and Venezuela will continue to scare investors and Oil prices will continue to rise.

There was a time in US history when we were the greatest exporter of goods on the International market. Now we are the greatest importer. Do you really think sending jobs and factories to China is helping our economy? It certainly is hurting our kids.

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