.... Remember last year? Big Oil was crying
that it's profits were being squeezed by the price of crude oil and/or
damage from Katrina, (and/or liberal environmental obstructionists
opposing the planting drilling rigs in the middle of national parks or
siting refineries across the street from grade schools). In reality,
the net profits from the prices that were raised much higher and raised
much faster than costs were accumulating at a rate that has been
usurpassed in human history.

I think the headline "Continued Record Profits for Oil
Companies" says it all.


Dan J.S. wrote:
I hate to break it to you, but I sit in commodities daily, and about 10% of
the current $70 brent crude price is because of Iran. Futures markets are
out of control - and futures markets predict issues with Iran.


Well, why didn't President Bush and Vice President Cheney
pay any attention to those people (who turned out to be
right) who advised them
1- U.S. energy policy should trend toward reduced dependence
on oil imports and
2- a rational policy towards Iran to increase the influence
of the growing middle class and moderates?

Instead, the Bush Administration's energy policy has been
kept top secret (guess why) and has been a train wreck for
everybody excet the oil companies. Their policies toward
Iran have pushed toward nuclear brinksmanship.

But hey, it's really the fault of all those libby-rull fag
traitors! Gotta be their fault!

What the oil futures market really predicts is that the U.S
will continue to act very stupidly and short-sightedly, and
that in a year or two it will be obvious that we've passed
the Hubbert Peak some time past.

DSK