it is worth mentioning that current oil and petrol prices do not reflect the laws of supply and demand. the demand for oil from china, india and US (who is in a recession) is in no way near of having $140/barrel price for oil. furthermore, there have been no shocks to oil supply so the surge in price can’t be explained there either. instead they are based on speculative trades on oil futures by massive hedge funds and the like.
Here is a good article from an alternative media source http://www.globalresearch.ca/index.php?context=va&aid=8878 written by F. William Engdahl called Perhaps 60% of today’s oil price is pure speculation
I saw bush on CNN yesterday saying that he understood the citizens’ worries that gas prices have reached $4/gallon (err…three months ago bush played stupid when one of reporters asked about future $4 price, see article here), and that he has proposed to congress to drill for more oil in alaska (as mentioned above, the problem with today’s price is not supply/demand, but instead price speculation).
more information on oil and food prices surge and possible reasons for it can be found http://www.informationclearinghouse.info/article20011.htm, http://americangoy.blogspot.com/2008/06/oil-bubble.html, and all over ze internets. just google for it.
That does look like an excellent way for Bush, his family and his aides to push their agenda because their interests are heavily vested in oil…lots of oil…here is what he is saying – “while you are paying lots of money for petrol, let companies that pay me money to pass this law dig for more oil to sell it to you and make money for me and the company…it’s ok if you continue paying $4 though, i can afford it, and i make money when you spend money! haha…
right, the president has spoken…everyone duck and cover!