Wednesday, May 24, 2006


Could this be why Bush Co. doesn't see a down side to global warming?

Hurricane forecasts push crude oil prices over $71 (AP)

Some of you will have heard the Oilfinger theory before, but it's short. Stay with me.

If you have something that's valuable you can either try to get more of it or you can make what you already have more valuable. It's what the movie "Goldfinger" is based on, well, apart from James Bond's boundless sex appeal.
The oilgarchs, of course, have oil. It's expensive to get more of it and is always getting harder to find. But that's the hard way to do it. Their wealth can increase if oil gets to be more expensive. A war in the Middle East, a really bad hurricane season. Both can be relied on to make the oil barons a lot richer. As this AP story shows, just the prediction of hurricanes can have that effect.

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