Oooh, scary! Oil prices spiked yet again, this time to $126 a barrel, upon the publication of an article from the Murdoch-owned Wall Street Journal that "unnamed senior US officials" say that Scary Evil Guy Hugo Chavez may be out there scarily arming the scary FARC rebels in Colombia, a country whose rulers are just about the only ones left in Latin America that are Bush-aligned fascist thugs. Among the things alleged by the WSJ:
- FARC Commanders Ivan Marquez and Ricardo Granda wrote that they met with Chavez in November and that he had gave orders for rest areas and hospital zones to be created for FARC fighters inside Venezuela.
- Venezuelan Interior Minister Ramon Rodriguez Chacin asked the FARC in an email to train Venezuela's military in guerrilla tactics as preparation in case the United States invades.
- Regarding a 250 million dollar Venezuelan "loan" to buy weapons, Rodriguez Chacin wrote: "don't think of it as a loan, think of it as solidarity."
- FARC commander Ivan Marquez described meeting with Venezuelan military intelligence chief General Hugo Carvajal and another Venezuelan general to discuss "finances, arms and border policy."
- The other general, who is not named, offered the Venezuelan port of Maracaibo to receive FARC arms shipments and suggested including "some containers destined to the FARC" in its own shipments of arms purchased from Russia, Marquez wrote.
- Venezuelan naval intelligence officers reportedly met with FARC guerrillas and offered to help them acquire "rockets" and to send a FARC member to the Middle East to learn how to use them.
Sounds pretty damning, right?
Well, except that they tried this two months ago, with the "computer documents prove Chavez paid FARC $300 million to make a dirty bomb" nonsense -- nonsense that Greg Palast promptly squished:
This past weekend, Colombia invaded Ecuador, killed a guerrilla chief in the jungle, opened his laptop – and what did the Colombians find? A message to Hugo Chavez that he sent the FARC guerrillas $300 million – which they’re using to obtain uranium to make a dirty bomb!
That’s what George Bush tells us. And he got that from his buddy, the strange right-wing President of Colombia, Alvaro Uribe.
So: After the fact, Colombia justifies its attempt to provoke a border war as a way to stop the threat of WMDs! Uh, where have we heard that before?
The US press snorted up this line about Chavez’ $300 million to “terrorists” quicker than the young Bush inhaling Colombia’s powdered export.
What the US press did not do is look at the evidence, the email in the magic laptop. (Presumably, the FARC leader’s last words were, “Listen, my password is ….”)
I read them. (You can read them here) While you can read it all in español, here is, in translation, the one and only mention of the alleged $300 million from Chavez:
“… With relation to the 300, which from now on we will call "dossier," efforts are now going forward at the instructions of the boss to the cojo [slang term for ‘cripple’], which I will explain in a separate note. Let's call the boss Ángel, and the cripple Ernesto.”
Got that? Where is Hugo? Where’s 300 million? And 300 what? Indeed, in context, the note is all about the hostage exchange with the FARC that Chavez was working on at the time (December 23, 2007) at the request of the Colombian government.
Indeed, the entire remainder of the email is all about the mechanism of the hostage exchange. Here’s the next line:
“To receive the three freed ones, Chavez proposes three options: Plan A. Do it to via of a ‘humanitarian caravan’; one that will involve Venezuela, France, the Vatican[?], Switzerland, European Union, democrats [civil society], Argentina, Red Cross, etc.”As to the 300, I must note that the FARC’s previous prisoner exchange involved 300 prisoners. Is that what the ‘300’ refers to? ¿Quien sabe? Unlike Uribe, Bush and the US press, I won’t guess or make up a phastasmogoric story about Chavez mailing checks to the jungle.
To bolster their case, the Colombians claim, with no evidence whatsoever, that the mysterious “Angel” is the code name for Chavez. But in the memo, Chavez goes by the code name … Chavez.
Well, so what? This is what . . . .
Colombia’s invasion into Ecuador is a rank violation of international law, condemned by every single Latin member of the Organization of American States. But George Bush just loved it. He called Uribe to back Colombia, against, “the continuing assault by narco-terrorists as well as the provocative maneuvers by the regime in Venezuela."
Well, our President may have gotten the facts ass-backward, but Bush knows what he’s doing: shoring up his last, faltering ally in South America, Uribe, a desperate man in deep political trouble.
Uribe claims he is going to bring charges against Chavez before the International Criminal Court. If Uribe goes there in person, I suggest he take a toothbrush: it was just discovered that right-wing death squads held murder-planning sessions at Uribe’s ranch. Uribe’s associates have been called before the nation’s Supreme Court and may face prison.
In other words, it’s a good time for a desperate Uribe to use that old politico’s wheeze, the threat of war, to drown out accusations of his own criminality. Furthermore, Uribe’s attack literally killed negotiations with FARC by killing FARC’s negotiator, Raul Reyes. Reyes was in talks with both Ecuador and Chavez about another prisoner exchange. Uribe authorized the negotiations. However, Uribe knew, should those talks have succeeded in obtaining the release of those kidnapped by the FARC, credit would have been heaped on Ecuador and Chavez, and discredit heaped on Uribe.
Luckily for a hemisphere on the verge of flames, the President of Ecuador, Raphael Correa, is one of the most level-headed, thoughtful men I’ve ever encountered.
It's ironic that Bush and his buddy Uribe are hollering about Chavez' allegedly trying to topple Uribe, since Bush (if not Uribe) has been caught actively trying to topple Chavez. (And it's not as Bush has anything against alleged dictatorships, being as he's been so cuddly with guys like Uribe and Musharraf and Islam Karimov. What he dislikes are governments that don't screw the little guy -- or don't bow down to Bush.)
Oh, but Bush and his people would never lie to us about something like this, right? I mean, just because they lied to us about Iraq and are lying to us about Iran and all that.
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yegads, that face!
Yeah, what about them scary guys in the district of Colombia!
Just wandering by but here is a picture of a beautiful typhoon currently in the Pacific. (This is not a permalink.) It is expected to move north and graze the east coast of Japan.
http://www.goes.noaa.gov/FULLDISK/MTIR.JPG
Eggszacktly.
So many countries to attack so little time (and available ground forces). Sigh…
FARC == Fat Ass Republicans in Congress.
Clusterfuck’s got eight months left, and no troops to spare. How many countries ya figure he can invade?
I figure zero.
How about Bush & Co. trying to topple unemployment, the lack of single payer health insurance & the housing crisis.
I know this is very DFH of me but maybe it’s time to give peace, (vs perpetual war) a chance.
LOL! That’s good.
lol :)
Yup. But he can ramp up profits for his oil-industry friends by using scary stories to drive up the price of oil.
Bush will likely resort to flappin his jaw for eight long, painful months. He can’t STAND to be ignored.
I repeat: I am old enough to remember the good old days when oil was only $100 a barrel.
If a) Bush’s tax cuts never went through, and b) the money spent on his war was instead spent on programs here at home, and c) the tens of billions in subsidies to Big Oil each year were instead given to the renewable-energy industry (hey, Bush himself said in April of 2005 that oil companies didn’t need subsidies if the price of oil stayed over $50 a barrel, and it’s now well over twice that), we’d be in much better shape than we are now.
Imagine being in his Secret Service detail after he leaves office. Then he really won’t have anything to do and will just babble all the time.
And Dubya said if that pinko Gore got elected it’d be $50!
Think how much taxpayer dollars could be saved with impeachment!
George W. Bush, April 21, 2005:
Except that he and his backers have since shot down any suggestion from Congressional Democrats of cutting these subsidies to Big Oil. Funny how that works.
These guys will NOT be happy until there is a major war on every continent…
Holly Sh*t….. somebody take away that stick that Bush uses to keep whacking the hornet nests and sends this whole world into a terminator movie…
Yeah.
They are strangling us, though.
I figure the legislative year ends effectively at the end of July. When we hit August- the presidential election will drown out everything- including Bush….
This guy’s got less than three months to get anything done- after that it’s a long downhill slide on a rough sled.
I visualize him spending his post presidentin’ days sitting on the couch, hand in pants a la Al Bundy, watching baseball and eating pretzels.
Yeah, and with no real available ground forces to conduct them. They’ll have to do ‘em all with missiles and air power, amybe even all the way to tac nukes. It’s insane.
For decades Ronnie Raygun and others told Latin America that if they’d just adopt democracy, free enterprise, and free trade- they’d be ROLLING in money…So they DID- and they AREN’T.
That’s what’s bad in Latin America right now- they followed the gooper gameplan and it led no where- same as what happened to Iraq—–
Same as what happened to US!
Some day the world will understand that goopers just pull this bullshit out of their assholes.
When law enforcement breaks down the door, cuffs him, and drags him off to the Hague.
I figure he’ll go out an buy himself a baseball team- an fuck it up.
He’s gotta go on to be MLB Commish, so he can thoroughly ruin baseball as well.
here’s a point of this post that nobody has mentioned yet;
suppose a legitimate threat makes itself known by the real inteligence agencies (not cheney’s “team b”)
we will never believe another threat this administration claims, they are the boy who cried wolf.
Great Minds Think Alike, LOL.
“I’m too YOUNG to retire- and there’s still lots of stuff ta fuck up out there—I’m the famous CLUSTERFUCKER!”
Yeah- second time this morning at least.
Well, of course, the Bush Regime has to blame a lefty for their troubles! We wouldn’t expect anything less. Spit.
Oil price going up, Venezuela in the hands of people who won’t roll over for Bush…yep! Time to invade.
You’d think people would have caught on to the phony evidence bit tho.
lol
The next president will have to clean up numerous messes,
including the aftermath of bombing campaigns in
South America and Central Asia.
But, not to worry, they’ll be surgical.
Re: “Yup. But he can ramp up profits for his oil-industry friends by using scary stories to drive up the price of oil.”
This tends to support observations of a speculative bubble being formed for oil.
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I am concerned that the American people will never believe anything said by our gov’t. A little of that is healthy, but a lot could be dangerous.
August first marks the effective end of the Clusterfuck presidency…
Have a little celebration- practice for January.
MBL Commish would be his dream gig. Get up late, do no real work, hang out at the ballparks, bloviate incoherently at luncheons and banquets, schmooze with other Big Dogs…
Perfect fer them ex-presidentin’ days.
Borrowing a line,
“For the Bush administration, lyin is the most natural form of breathing”
Sen. Byron Dorgan is supporting legislation to reduce the level of rampant speculation in oil futures contracts.
We should be wholeheartedly supporting his efforts, since this is the primary cause of skyrocketing oil prices.
Yes, China and India’s increased demand is a factor, but oil was $62/bbl a year ago, and is $125/bbl now. Demand hasn’t doubled in a year’s time, yet the price has.
Now add to that kind of leverage the billions of dollars hedge funds use to buy these futures contract with, and you get our current situation.
That is patently ridiculous, and serves no purpose other than greed.
Yeah- I can see him doin that-but are ALL the owners insane?
Our Padres are playin as if Clusterfuck was ALREADY runnin em!
Maybe Clusterfuck an Cheney can form a Rock Group—-Clusterfuck and the shooter.
This is a comment I came across on a forum I read that I found interesting re other potential manipulation to drive up the price of oil and why:
“Commodities are in speculative bubble. The price of oil is a ruse propped up by traders at the NYMEX. Think of all the money from the sovereign wealth funds generated in the past five years alone due to the meteoric rise in the price of oil. If you ran that kind of monopoly, why not put a few traders on staff at the NYMEX to artificially inflate prices?
The math just does not add up. The price of oil is set by trading at the NYMEX. Oil from trading on the NYMEX is delivered to Cushing, OK where the facility can hold ~45 million barrels. Today the total number of contracts for June delivery traded at the NYMEX was 201k contracts. Each contract represents 1,000 barrels of oil. So today, 201 MILLION BARRELS OF OIL CHANGED HANDS. That is 4 times the amount that the facility at Cushing can take delivery at the end of the month.
You guys who are sure oil is going higher go ahead and pick up a few contracts for December 2010 delivery. They are only trading at 106 — that is a 8% discount to where oil closed today. After all, someone has to hold the bag…”
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Flight of the NeoCon Chords. (emphasize “con”)
Demand is less in the winter- so I would guess that it’s normal for dec futures to be less than summer futures.
Think you could teach Clusterfuck enough chords to fuckup to cover Cheney’s lead?
I’ve been thinkin’ (insert joke here) we should have ‘Bush is gone’ parties across the country on Nov. 3rd.
This would be an indignation he deserves — parties that celebrate his leaving office before we even know who the successor will be!
I can see those guys doin :
“All in all yer jest another brick in my wall”
That has promise- the DNC could co-ordinate and sell party supplies proceeds to go to bury McBush.
Didja see that pic of Bu’ush playing that A-flat Demolished chord while doin’ airhead guitar poses the day he was Dilettantin’-in-Chief in CA while NOLA drowned?
No wonder this Administration’s emails are so hard to find! Look how the spin blows up when you actually have the text!
Didn’t see it- sure confused the hell out of the guy next to him!
What is that? Takamine One?
rwcole- I’m no economist, but it sounds like he is focusing on evidence of speculation being driven to artificial heights.
The commenter had some follow-up comments:
“One thing Bush could to today to dramatically lower prices is to stop filling the SPR, and announce that the government is going to start releasing oil onto the open market until prices moderate. You don’t even have to define moderate, and it would pull some of the speculative money into something else. You could also raise margin requirements on futures trading at the NYMEX, similar to what happened in the grain contracts. However, I don’t think W has a vested interest in lowering oil prices, actually it is the opposite.”
and
“The government is in effect manipulating the market right now by continuing to fill the SPR at record oil prices. Far be it from the government (not specific to any party’s administration) to know how to buy low and sell high.
The SPR currently holds 701 million barrels of oil. Maximum withdrawal is 4.4 million barrels per day. So even if all supply (including domestic and from other allies) were closed off, it would take 160 days to drain the SPR.
Changing the margin requirements is hardly market manipulation, it simply limits speculation.”
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That could be- I was just observing that the dec. futures price may not be great evidence for the charge.
Naomi Klein discusses this very thing in The Shock Doctrine. Latin America was the cradle where the Chicago Boys first nurtured their theories. But shock wears off, and institutional and cultural memory keeps it from coming back.
BTW, The Sheikh is All Business:
This is how he will likely subsume and negate Hillary’s bitter hardworking white Americans.
My own gut tells me that these price increases- while they may moderate a bit from time to time, are not a temporary phenomenon- but rather another step on the stairway to $10 per gallon. That’s ALREADY the pump price in Europe….
If we get there, we’ll see that americans ARE capable of changing some of their habits.
Wait- is that thing a Taylor? Did Bob Taylor give that asshole a free guitar??
That’d be the end of doin any business with those guys.
You can change habits but what do you do when there is not decent transportation system? I was amazed at how wonderful the London tube is and how much we need something like that. Japan is way ahead of us with bullet trains and such. We sit and fume and have a study and then do nothing.
you know, I am having a debate with some collegues, I am claiming we are no longer in a recession in fact we are in a depression
what say all?
Take the Yankees. Please.
(guess who’s a dyed-in-the-wool Dodger fan)
Are there any std definitions for “economic depression”?
Well many cities are tryin to do something- but there are some major problems with cities that were developed AFTER the automobile—take LA—PLEASE!
LA has extensive public transportation but if you live in Pasadena and work in Sherman Oaks- I think yer fucked…
Older cities developed central business districts- like Manhattan- and that’s where people went to work, shop, and play- so transportation sytems could be developed like the spokes of a wheel– EASY.
We have good service to downtown San Diego -But who the hell goes to downtown San Diego? Not many.
Don’t agree.. Don’t think we’ll get there either.
Dodgers– Yikes.
I always liked the Dodgers till some of their fans came to San Diego and pissed on people from the upper deck
recession
The state of the economy declines; a widespread decline in the GDP and employment and trade lasting from six months to a year
depression;
A long-term economic state characterized by unemployment and low prices and low levels of trade and investment
Exactly correct.
This is the same sort of crap the Enron traders pulled on California after deregulation in that state.
If you haven’t seen it yet, do youself a favor and see ‘The Smartest Guys in the Room‘ re: the collapse of Enron.
In one scene, guys from a trading desk calls a electricity generation facility and asks them to shut down, just to drive prices higher!
And they do it!
Then, they all get a good laugh about “grandma being stuck in an elevator” because of the blackouts they’ve caused.
The exact same mindset is going on right now with oil futures.
These people have no moral compass; it’s all about the next trade. They couldn’t give a rat’s ass about the consequences of what they are doing to the nation’s economy.
That could prove to be very interesting. They announce the threat, Congress says, “I’m from Missouri. Show me the evidence.” (right, in our wildest dreams), let the pissin’ contest begin.
don’t forget there are levels of depression, it’s not a “now you are there” scenario that looks like the great depression, there are quite a few layers before that
I agree….. in my daily walks in my neighborhood…… two houses have been on the market for more than a year….. empty…… the last count was over 10 homes for sale on my 2 mile route through my subdivision.
Seeing a lot more people on bicycles and it will be 98 degrees today… even seeing people waiting for the bus which is just a radical change. Closing of businesses, grocery stores, restaurants with commercial buildings sitting empty….. the housing builders switched to commercial property building which is going like mad right now but not seeing anyone move into these buildings….
I am personally in a state of nascent economic depression, certainly now in a recession.
Not that! He’ll invade the NBA. And bomb the NHL.
I had that exact analogical thought, the Enron analogy to the hedge fund market manipulations.
I think the operative phrase to describe the price of oil is “price volatility.” When supply is too close to demand, you get significant peaks and troughs. If signs of a looming major trough are present to those on the inside, it’s not beyond my capacity of understanding to imagine an effort to pump it for all you can before the inevitable crash.
That’s what I don’t understand about this run-up in the price of oil. The US uses a huge percentage of global oil on a daily basis and for months now there has been evidence of a teetering economy and/or evolving frank recession. Given that the global demand for oil would be expected to wane under such circumstances, I can’t reconcile 20% increases in the price of oil in such short intervals.
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I don’t think I’d hold the team responsible for a bunch of immature drunks. I wonder if they learned to do that at home.
here is some excellant research concerning cheney’s “team b”
that link is wiki and it tells the history, the claims, the reality;
cheney and rumsfeld have always been in the business of making believe there are threats against this country
I think our economy is a house of cards……. we cannot trust the statistics because the Repugs have been fudging the numbers for years…..
They stopped reporting on the M3 which reports on the amount of currency in circulation…. with Bernacki motto of print more money will solve anything….
The creative way they report unemployment numbers…… IF you have quit looking for a job, no longer collect unemployment benefits and just give up….. then you are not counted….. OR if you take a job that is considered underemployment then you are not counted
Have a couple of friends who are truckers who bring goods from Long Beach to Arizona……..one guy says he can sit there for days waiting for a load vs making two round trips a week. Goods are not being imported as they are not being ordered.
more on team b
Got to have a bogeyman to keep the sheep nervous and the war toy makers rich.
War is good business
Send your child
great post katymine
It has precious little to do with supply and demand.
Various estimates show anywhere from $30-$50 dollars per barrel is speculation.
Please take a moment to read my comment @41. Sen. Dorgan needs our support on this issue. He is one of the few people looking to do something that would provide immediate relief from skyrocketing oil prices.
Some thoughts on this economic House of Cards
More on M3, manufactured unemployment figures, and declaration that “The housing crisis is over!” in Everything is Fine
first, we need to take american oil off the market, our oil has to be sold in america at a cost plus scenario not a market price scenario
oil is a national asset, it’s not the producers product it’s ours
yes that will drive up the price of speculation at the beginning
but then there has to be phase 2
no american concern can have investments in the oil futures
now that I just drew together in my own head, I have no idea the feasability
STTPinOhio - thank you for the reference back! If something can be done by our elected officials to curb the runaway speculation that affects us all, by all means this needs to be made widely known. We need to become more efficient energy diverse as a nation and a world, but not because of a bag of assholes who can fuck with the system on a whim to get rich.
What I do is just look around me……. not seeing people turning in those cars for brand new shiny models or if they are…… they are getting more economical cars….. houses and commercial property empty and on the market a long time….
Go to your chain grocery store and look at the shelves….. are they full from edge of the shelf to the back? Or is the area for a specific good gotten smaller? Or the variety of a specific product down to a choice of one?
The saddest thing I have seen lately is a TeeVee ad for prosthetic limb company here in Phoenix…..
Absolutely, no question, no argument here. We’ve wasted 8 years towards this objective having 2 oil men in the White House.
Which is exactly what’s happening now.
The moral cowards that are the Neo-cons and the Bush/Cheney cabal want to squash and subjugate all of the small states that they perceive as threatening.
Hence Iraq, Syria, Venezuela, Cuba.
They have no ability to challenge the real superpowers….let’s not kid that the US is the sole superpower……China is rising fast….Russia is back.
But these moral invalids never challenge anyone who can fight back.
That’s why out of all the small states they have been unwilling to challenge Iran…..beyond bluster and are more than willing to negotiate and induce North Korea. Both of these states, North Korea especially are ones that could offer the US a seriously bloody nose.
Better to stick beating up the little kids for their lunch money.
-G
This is not a good sign
Federal regulators close Arkansas bank ANB Financial
Which is why countries like Iran seek nuclear capabilities.
They look around and see it’s only non-nuclear countries that get invaded, and have their resources stolen.
Neither is this:
Is It Time To Invade Burma?
Chimpy wasn’t all tough talk with China when they knocked the US spy plane out of the sky and and copied every bit of information for themselves either.
Anyone who thinks the US looks strong, resolute or moral because of the Bush policies needs serious therapy.
-G
Thanks PW.
More of the same from the Republofascists. OT but apparently Obama will have 1,000,000 volunteers working on the general election. Does not include the Democratic Party, and the unions who will also be out in force. Time for the tidal wave to innundate the Republican Party. The day after the innaugaration let the trials begin. Keep America clean, throw a Republican in prison.
Part of it is also the devaluation of the dollar since oil is traded in US dollars. If the Fed let the dollar rise some, the prices would go down.
Or this.
http://www.usatoday.com/news/r.....htm?csp=34
Good thing we’ve been building all those new prisons. Maybe we should put the war criminals in prison and let the pot smokers go home.
want to have some fun?
mccain notes for some campaign slogans
do not drink coffee and read at the same time
Do you think the Crystallex gold permit might have something to do with it the deal was canceled KRY’s stock went to .04 cents a share but now Hugo is reconsidering all of the sudden.
(personal note my throwaway gambling money is in this one) :(
http://www.bloomberg.com/apps/.....in_america
That’s a double edged sword. The wingers put the IRS onto the liberal churches and now they want to test the IRS. This will be an interesting little sideshow.
Someone please let the citizens of Crawford know that the Emperor has been without clothes for some