about | this week | chronicles | journal | archives
elliott wave analysis | GATA
Oil vs. Approval
6 March 2003 * Richard Lancaster

As the price of oil (POO) continues to rise the American love affair with the current president seems to be tapering off. Internationally there is a cacophony of protest against the approaching war. Almost every where else across the planet the people seem to be protesting in record numbers against what they see as an unnecessary conflict in the making. There is a crisis of confidence building.

Sure they’d like to see the end of Saddam and his murderous, dictatorial regime, but does the world really need another war?

The US corporate media continues to paint this dissension towards the president as disapproval of the American people by foreigners, but the people of the world seem to be adamantly stating that this is disapproval of current foreign policy – not a dislike of America or its people. Wherever I’ve been in the world the majority of people have done all they can to emulate American values and lifestyles - most people would love to live in the United States.

Most people in the world look to America to lead them, to lead the way toward a more just and honest planet. They love and respect so many of the rights and freedoms Americans and other Westerners enjoy. The vast majority admires and wishes to achieve these rights, these freedoms, and the western lifestyle that goes with them.

It seems somewhat likely that there are several thousand Islamic fundamentalists in the world hell-bent on hurting America. This may be true. If so, it is indeed something to be acutely aware of and America should be determined to combat through the justice system and all of the power of international law.

Terrorists must be brought to justice, whether they are corporate-backed dictators and puppets of western interests, or rogue dictators who have forced their own agenda to the forefront. Either way, they and their backers should and must be brought to justice. That is the way we do things in the west, we use the institutions we proudly erected around the world; we stay within the law; we trust our due process; and we doggedly bring the bad guys to justice.

Now you and I know that at the end of the day we must stay within the judicial system if we want to support and respect what we in the west value. It's similar to parenting. If you don’t stand up for what you believe in and set an example for your children, and instead act in a contradictory fashion using deception and lies in order to keep them in line – well then you are doomed to fail as a parent. You lose credibility at a basic level. Consistency, discipline, and fairness through action and deed are totally necessary in order to form and maintain a stable home life as well as maintain a stable governing climate. Both require integrity.

So if we can work this out and see the discrepancies as the simple peasants we are, then surely our leaders already must realize this as well. This leads to the conclusion that maybe the war is about something other than going against international law, protocol, and the public opinion of the planet just to get this bad guy?

But what on earth could possibly be more important than snuffing Saddam, our own real life Dr. Evil?

Well, for the past 2 years Iraq has been paid in Euros instead of US Dollars for the small amount of oil they’ve been allowed to export. If this trend were to catch on with say Iran and Venezuela, well then who knows what might happen next! The US Dollar is already in a world of hurt and possibly 20% overvalued still. If other oil producing nations shift to the Euro and out of the US Dollar then the US economy will suffer dramatically and most probably sink in to the 2nd Great Depression sooner rather than later.

However, if we go to war with Dr. Evil and fail to achieve the objective immediately – securing the oil fields, replacing the regime and kicking out the French and German Euro (which Britain is not a part of at this point) – then we are likely to see spiking oil prices to levels never seen before, a crisis in leadership, and an acceleration towards the 2nd Great Depression!

This leaves just one option in the minds eye of our management. Go to war and win very quickly. This outcome would potentially bring about a stay of execution for the US economy. We would suddenly see oil prices drop, euphoria over winning such an obviously “justifiable” war would boost the market temporarily, and we’d all feel relieved that this was behind us.

After the euphoria wore off, maybe after the next presidential election, we’d then begin to slowly creep towards the 2nd Great Depression!

E-mail this Article

Comments, or to be notified of new articles:

News Links & Recent Articles:
This Week

Sources & other interesting reading material: