Wednesday, April 19, 2006

Hungry For Oil

This is rich. According to today's Times, the Bush administration plans to scold China for its oil consumption, attempts to "lock up" supplies and its dealings with unsavory regimes:
"They are buying long-term supplies wherever they find them, including in unsavory places like Sudan, Iran and Burma, where we won't buy," said Michael J. Green, a Georgetown University professor who directed policy on China at the National Security Council until late last year. "They say it is benign, because they don't interfere with the internal affairs of other nations. And we say it is anything but benign, because it finances these regimes' bad behavior."
China, with more than a billion people uses 6.5 million barrels of oil a day while the United States with around 300 million uses more than three times as much, but they are causing a problem. And even if we don't buy directly from places like Iran and Burma, our ravenous consumption keeps the prices high and helps fund those regimes.


ChinaLawBlog said...

But doesn't the United States use oil more efficiently? Obviously not on a per capita basis, but as per the type of use?

China Law

Joe Populist said...

Besides the fact that China is setting up oil contracts with anti-American regimes not only will provide economic support for anti-
Americanism in the Mideast, but more importantly China's decision to dump the dollar in deal in Euros has the threat of upsetting the entire house of cards that Alan Greenspan has set up to create the Republican "prosperity".

If US dollar loses it status as reserve currency, the Fed can no longer export the US governments inflation, and instead of creeping inflation, the US consumer will face galloping inflation.

That's what happens when you give up your national sovereignty...and open your borders to immigration, and trade: you put your economic security in the hands of foreigners.

The simple minded free-marketeers that have been telling us that "interdependence" makes us richer and safer are crazy. Not only is US economic stability in the hands of foreigners, but the US must project it's authority by military means in the Mideast to hostage the oil supply, in order to keep the foreigners that fuel our so-called "prosperity" obedient to continuing the monetary farce that is the basis of the US economy.

Immigration, Imperialism, and Insolvency..the platform of the Republican Party.