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Energy Politics June 12, 2008

Posted by nukemhill in Politics (Ghahh!), WoT.
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Some musings on a Thursday evening.  I was listening to Cramer on the way home this evening (I know, I know.  Why?!).  He was going on about how he didn’t believe the Saudis wanted oil to be as high as it is ($136.50 according to the Bloomberg website this evening).  He voiced the opinion (I was going to say he believes, but I can’t make that assumption) that the Saudis are actually tapping out, and that they really can’t pump any more oil.  The basis for his argument is that, because oil is so expensive, we are actively exploring alternative sources for energy, and that it would break the back of OPEC if we actually followed through.  The Saudis wouldn’t want that, so they’ll pump more oil if they have it.  I think that’s a fair argument, but it may be a little short-sighted.

My thoughts:

First, I have heard, rather reliably, that the Congressional committee (which one I can’t remember) that voted on ending the drilling moratorium for our shores and in Montana/Idaho/Wyoming voted on party lines.  14 Republicans for ending the moratorium, 15 Democrats against.  That vote happened.  It was in the news.  What I heard off the record, but from several sources, is that the 15 Dems all recently received campaign contributions from?

The Saudi ruling families.

Hmm.  I’m not usually big on conspiracy theories.  I always left that to my dad.  But this one seems a little too convenient.  If they are playing for world domination (Wahabis anyone?), then restricting the oil supply and jacking the prices up makes sense.  They’re pulling in 100s of billions of dollars every year on oil revenue.  That’s waaaay more than enough to fund their fundamentalist sects around the world, let alone funneling cash to any particular terrorist organization (al Qaeda anyone?) that they want.  I’m not about to assert that they’re funding al Qaeda, but I think the circumstantial evidence raises some questions.  And they’ve certainly not been friendly with Israel.  There’s plenty of evidence that they’ve funded Hamas.

Something to think about.  I’m not quite sober at the moment, so maybe I’m just channeling some paranoia at the moment.  And this certainly is a theme that deserves more contemplation.  Perhaps Stephen Green would be better suited.

Comments welcome.

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