One month before the U.S. invasion of Iraq, Saddam Hussein offered to go into exile in exchange of $1 Billion. Contrast that with the Bush Administration's current request for another $195 Billion to continue the war.
According to a recent study, the United States has prepared a massive assault on targets in Iran of both a nuclear and non-nuclear nature.
In 1994, shortly after leaving office as Defense Secretary, Dick Cheney was asked to explain why president George H.W. Bush didn't move into Baghdad and topple Saddam. His response is quite informative given the current situation.
After the failure of several contractors to deliver badly needed equipment on time, the U.S. Military's procurement practices have been called into question by the Pentagon's Inspector General.
With oil production increasing at the rate of 1% a year versus demand rising at more than 2% a year, it is estimated that a supply crunch will hit a critical mass within five years causing a significant jump in oil prices.
While U.S. gas prices hover just under record highs, U.S. oil stocks are now at their highest point in nine years. Can we expect to see a drop in gas prices?
Like all liquids, gasoline expands as the temperature gets hotter. Gas pumps in the U.S. measure a gallon of gas at 60 degrees F. When the temperature is over 60 degrees, you're not really getting a gallon of gas. This fact has prompted some motorists to take big oil to court.
It would appear that the United States is not the only member of the coalition in Iraq that is there for the oil. Australia's defense minister, Brendan Nelson, let it slip that Australia's motivation for continued involvement in Iraq is a result of a desire to maintain "resource security".
Citing continued threats from the U.S., Iranian president, Mahmoud ahmadinejad and Venezuelan president Hugo Chavez met Monday before reports to lay the cornerstone of a joint petrochemical plant and an alliance.
Maverick Republican candidate, Representative Ron Paul of Texas, announced his belief that U.S. intervention in the Gulf, particularly Iraq, is about protecting the interests of the oil industry. He went on to criticize the tax breaks and other subsidies the U.S. gives to the oil industry.
As the House of Representatives considers a bill to penalize price gouging at the pump, the White House has come out with a statement that it will veto any such measure.