Opinion » Maxed Out

Maxed Out

The light bulb goes on



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Ditto those cheese-eating surrender monkeys in France, as the right-wing press now likes to refer to them.

But with the advent of the European Union and the euro as a viable reserve currency, this US oil hegemony is threatened. When Iraq started denominating oil in euros in 2000, the neo-conservative think tanks in the DC beltway went ape-shit. Largely ignored during the Clinton administration – or as one pundit put it, the best Republican administration in the last 25 years – the neo-cons, under the leadership of now Deputy Defense Secretary Paul Wolfowitz had been pushing an invade Iraq plan since Gulf War I. After September 11 th , the plan found sympathetic ears in the oil-clubby confines of the Bush White House.

In one fell swoop, the US can lock up Iraq’s oil – second largest reserves in the world – dismantle OPEC’s price controls and cut the world price of crude in half by ramping up production, lock oil trading inexorably to the US dollar, establish a permanent military presence in the Middle East, hold up a shining example to other oil-producing countries, Iran for example, of what happens if you get too far out of line, and protect the US economic house of cards for, hopefully, the rest of my life.

Hell, if they’d just explained that in the first place I’d have jumped right on board. If it’s a race between me and the cheese-eating surrender monkeys being reduced to third-world status, better them.


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Read it for yourself and see what you think. You can find Clark’s paper at: http://www.sierratimes.com/03/02/07/arpubwc020703.htm

and Heard’s (under the title Not Oil, But Dollars vs. Euros ) at: http://www.pubtheo.com/page.asp?PID=1181