The $700 Billion Hoodwink, A Tactic for Big Oil

Lately a phrase has been falling from the lips of corporate media parrots, the mind numbing of so-called pundits. The phrase is $700 billion is sent to oil producing nations and it is the greatest transfer of wealth the human condition has ever witnessed. The point, with exception to a few others, is the rapacious Big Oil Companies should be allowed to have their way extracting oil from places opposing analysis say will be harmful to the human condition.

I want to focus on this $700 Billion transfer of paper money idea as having this dire negative consequence. First of all $70 Billion sent by the United States to oil producing nations simply means American industry recoups it and American productivity expands.


Lets take Dubai an oil producing nation and it's hell bent policy of playing with glass and steel. Every single dollar of Dubai oil revenue spent on it's glass and steel infatuation is returned to the United States and other Western industrialized nations, to do what? Buy the necessary technology and know how to erect it's Sky Scrapers.

This simply means companies as Caterpillar in the U.S., Komatsu in Japan and many others are able to keep their production lines churning heavy equipment for Dubai. Meaning job creation and national productivity stability.

Big Oil Companies will stop at nothing in this war for the hearts and minds and any and all skew of political-economy is fair tactic.


By Apropos