Anonymous said... Actually, they don't want the Iraqi oil, yet.
The Saudis and their Houston brothtren did cartwheels when the Uberidiot was conned into the invasion of Iraq.
They knew, as anybody with half a brain knew, that the probable outcome would be an indeterminable period of lack of Iraq deliveries.
That meant, now watch close cause this is confusing, that oil that could be brought to market would go up in price.
You did notice that didn't you?
Now we're dealing with conspiracies... you are the living end...
Oil is, adjusted for inflation, cheaper now than in 1979... see InflationData.com
"...In other words, Oil would have to average $98.49 for the entire month to be as high as the price we saw in December of 1979. But we are "only" paying about 2/3rds of that amount.
Another factor that makes the Oil price worse in 1979 is the fact that back in '79 interest rates were two to three times higher than they are now, peaking in the high teens. Combine lower mortgage rates with lower taxes and the modern household actually has about $500 extra cash available each month... which will buy a lot of gasoline. But with interest rates rising and inflation climbing we are rapidly approaching 1979 levels..."
So, in the short term, they still aren't getting as much money for their oil as they did nearly 30 years ago. In the long term, of course, it will flow with the stable world price... so what the hell are you talking about? Now go away. But, first, remember, Bush did better in school than Gore AND Kerry [See, I can be asinine, too.].
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