Do you guys understand commodities markets? Well I don’t and I still know enough about them to know that what you suggest is ludicrous. The oil goes to the highest bidder. It is a commodity just like corn, orange juice, and pork bellies. The highest bidder sets the price; supply and demand at its best. Just talking about this makes me hungry for a plate full of fried eggs, grits, bacon, and a big tall glass of orange juice. Yummy!
I agree with you that you don;t understand the oil commodities market. But it is always possible to catch up by reading a little on the subject:
“Iraq is important to world energy markets because it holds more than
112 billion barrels of oil - the world’s second largest reserves. Iraq also
contains 110 trillion cubic feet of gas.”
US Government’s Country Analysis Brief on Iraq, December 1999. ]
“As the United States prepares for war with Iraq, a report commissioned
early in George Bush’s presidency has surfaced, showing that the US
knew it was running out of oil and foreshadowing the possible need
for military intervention to secure supplies.”
Sidney Morning Herald, “Oil has always been top of Bush’s foreign-policy agenda”, 7 October 2002. ]
"What makes the new Bush administration different from previous wealthy
cabinets is that so many of the officials have links to the same industry
- oil."
BBC News, “Analysis: Oil and the Bush cabinet”, 29 January 2001. ]
“Bush has long had close links with the energy business. Not only did President
Bush work in the oil business, so did the Vice-President and two other
members of his cabinet. Energy companies contributed generously to the
Bush campaign, sometimes by unorthodox means.”
BBC Report, “The Toxic Texan”, 18 October 2001. ]
"President Bush’s Cabinet agreed in April 2001 that ‘Iraq remains
a destabilising influence to the flow of oil to international markets
from the Middle East’ and because this is an unacceptable risk to
the US ‘military intervention’ is necessary."Sunday Herald newspaper (UK), “Official: US oil at the heart of Iraq crisis”, 6 October 2002.
“The new oilfields, when developed, could produce up
to eight million barrels a day within a few years - thus
rivalling Saudi Arabia, the present kingpin of oil.”
Evening Standard, “Is this war all about oil?”, 11 March 2003 (PM).
BBC News, “Oil firms ‘discuss Iraqi stake’”, 12 March 2003.
“Oil firms BP and Shell [both owned primarily by big
investors in the US and the UK] have held discussions
with the government over a possible stake in Iraq’s oil
reserves…”
Washington Post (USA), “Companies Selected to Bid on Iraq Reconstruction”, 11 March 2003.
“The Bush administration, preparing what would be
the most ambitious U.S. rebuilding project since the
aftermath of World War II, expects in coming days to
award a construction contract worth hundreds of
millions of dollars to begin remaking Iraq, U.S. officials
said yesterday.”
“A few U.S. construction giants – including the Bechtel
Group Inc., Halliburton Co. and Fluor Corp. – were
invited to bid for the work…”
BBC News, “Analysis: Oil and the Bush cabinet”, 29 January 2001.
“What makes the new Bush administration different
from previous wealthy cabinets is that so many of
the officials have links to the same industry - oil.”
BBC News, “**** Cheney: Leading hawk”, 10 September 2002.
“The vice president has also been deeply involved in the
oil industry for much of his career.”