Tuesday, April 11, 2006

Threatening to attack Iran

Seems to be working. To drive up gas prices, that is. Thank you, Mr. Bush.
Reports that President Bush is studying a military strike on Iran's nuclear program drove oil prices Monday to heights not seen since Hurricane Katrina tore through the Gulf Coast last year.

Gasoline prices aren't far behind, meaning a return to $3 per gallon looks more and more likely.
But that's just for openers.
"The market is not really factoring in the true impact of military action but the mere mention of it sends prices higher," said Gerard Burg, economist at the National Australia Bank.
Sure glad all the talk about attacking Iran is just "wild speculation." Just as the talk about invading Iraq was.

1 comment:

Anonymous said...

I think the government has to make up its mind as to why the oil prices are rising. Is it because the stock piles we have are shirnking or is it because of impending war with Iran? Someone from the govt. maybe even George W. himself can let the people know what's going on. We all know he will not do anything about the rising oil prices, because he is an oil man himself.
Since Mr. Bush has assumed the office of president, the US ecomony has not improved. Many Americans are worse off than before he bacame president. As oil and gas prices continue to rise, many Americans will have less disposable income, money they could have spent buying "stuff" will now be poured into the gas tank. The govt must do something to make us less dependent on foreign oil.
Maybe instead of threats of war our president should approach the nuclear situation in Iran with some diplomacy.