Apr 26, 2012

CNBC enlightens us this morning about the oil market. Production is lately stable, and so is demand. We Yanks are actually using quite a little less, and China's economy is said to be slowing enough to dampen demand in the Middle Kingdom.

So why the still goofily high gasoline prices ($3.70 in my neighborhood)?

The CNBC expert reminds us we're being extorted to the tune of 15 per cent by "geopolitical" concerns.  He probably pulled the number from a sunless region, but the underlying point seems correct. People who buy, sell, and use oil are scared witless that AIPAC will be able to rent the United States armed forces in order to spend a pleasant few months bombing Iran, Syria, and Egypt. Maybe Lebanon and Jordan, too, just in case, y'know.

It might not hurt  to send a nice letter to your congressman suggesting that United States aims may not be perfectly aligned with those of the Tel Aviv politicians. If you can enclose a nice campaign contribution -- say, a sum requiring two or more commas -- it certainly would help.


This also argues for building the Keystone pipeline. Canada is a relatively benign little country, well-oiled but with no desire to blow up all of our Christians. Its outrages run to the order of the Toronto Blue Jays and Giselle McKenzie, and we can certainly live with that, can't we?

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