Sunday, May 16, 2004

Oil prices up? No surprise there, then

Steve Grad and his buddies were shocked at the price of petrol (gasoline) here in the UK. Of course, they got a bad exchange rate (weak dollar against the pound) - but we are not subsidised in the same way that the Americans have always been. I am not saying we pay the 'real cost' of course (the real cost to the planet is something much bigger).

The papers are full of how, if the war in Iraq was about oil resources, then it has backfired, with the prices soaring.

I think that's crazy. What makes you think George Bush and Bin Laden and the other oil billionaires are fighting to reduce prices at the pumps, for the ordinary consumer?

The price of oil going up might well be exactly the desired outcome, if you are invested in oil.

Or am I missing something? Perhaps they want to save the planet by reducing our dependency on cars and planes?

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