Since 1976, the USA has spent EIGHT TRILLION DOLLARS protecting the flow of oil through the straits of Hormuz. Thats more than the cost of the who,e of the Cold War with the USSR. Thats 50 percent of the current national debt. Hundreds of US army bases in the Middle East are there specifically to keep oil flowing. The REALLY funny thing is that the vast majority of that oil goes to Asia (India, china etc). Only 10 percent goes to the USA. But Asia makes no contribution to that defence of the flow of oil. So America pays the whole defence bill, but only gets a small proportion of the spoils. Why ?? My guess is this. . . . . The oil and finance industries work hand in glove. When the oil companies discover a new oil field, or when they take over the state-owned companies of other countries, they need massive investment. A well costs a lot of money, sea rigs are even more expensive. Ancient harbours need to be rebuilt to take massive tankers, pipelines need to be laid. New roads through barren and hostile environment. Its up to global financial institutions (usually Goldman Sachs) to provide the finance, and reap the rewards when the oil starts to flow. Problem is, its a flawed business model. If you take into consideration the security costs, it costs more to get the stuff out of the ground than they could ever make in profit. So, because these institutions own Washington, they have managed to off-load these unavoidable costs on to the American tax payer. Thereby allowing them to award themselves eye-watering profits, massive bonuses and dividends for shareholders. And, of course, because they keep these profits off shore in tax havens they dont have to pay anything back. An EIGHT TRILLION DOLLAR gift from the American tax payer.
Posted on: Mon, 06 Oct 2014 09:43:53 +0000
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