THE BUSH PUSH ON OIL PRICE INCREASES 4: Iraq war has increased demand & decreased supply

Adam Kritzer at CurrencyTrading.net has written an article on “8 Ways the Bush Administration Has Caused the Oil Price Boom.”

. . . the ongoing US military effort [in Iraq] requires 3 million gallons of imported gasoline per day to sustain its operations. Disregarding the cost to taxpayers- estimated at $1 Billion per week due to the army’s unique fuel specifications- this means that the net effect of the US military effort has been an increase in demand for oil and a decrease in supply. One expert has speculated that if not for the Iraq War, the current price of oil would probably be closer to $40.

In this regard, the American people have resoundingly expressed their disgust at the Bush administration’s handling of the economy and conduct of the Iraq war. (New York Times / CBS News Poll of 1368 respondents: 1,196 registered voters, 510 Democratic Primary Voters, 323 Republican Primary Voters, conducted from 28 March through 2 April 2008, on issues related to the US Economy)

image from Microsoft Clipart, graphics by Ren Garcia