March 24, 2004

Bush chided for oil prices
It's so easy to blame President Bush--everybody does it for everything under the sun.
But Ed Lasky at The American Thinker eloquently explains why the blame is misplaced and should rightfully be put on the Sauds, because they have a horse in the race for the White House in 2004 (and it isn't Bush!):
The Saudi War on George Bush

[...]
How have the Saudis acted to destroy George Bush’s political career? By using the “oil weapon” to torpedo the American economy over the next eight months, and thereby weaken electoral support for George W. Bush’s candidacy in November.
 
The Saudis have traditionally been a swing producer within OPEC, acting to ensure oil prices remain “just so -- not too high, not too low” by increasing or decreasing their marginal production. Oil prices which are too high may encourage conservation and the development of alternative energy supplies. Prices which are too high also weaken the Western economies where Saudi Arabia’s investments must be parked.
 
However, this historical concern seems to have been trumped by Saudi short term desires to inflict as much pain on the American economy as it can, by raising oil prices in the run-up to November.
 
By restricting OPEC output since the end of hostilities in Iraq, the Saudis have forced oil prices up over the past several months. The American economic recovery is being slowly, almost imperceptibly, throttled. From a low of $23.61 per barrel in May, 2003, average crude oil prices have risen rather steadily, to $31.03 last month, up nearly one-third in eight months. If this rate of increase continues over the next eight months, the economic consequences for America will be grim.

As our Blogfather would say, "Read the whole thing." because there are too many Americans who believe that Bush and the Sauds are in a love relationship, which just isn't the case at all.
On the contrary, the Sauds are America's enemy and we are theirs, we're just not talking about it openly:

The Bush Administration, which still needs to deal with the Saudis, and many other repressive Arab regimes on the receiving end of Saudi largesse, undoubtedly perceives what is going on, but is constrained by the norms of diplomacy from openly acknowledging the reality of the situation. Voices urging accommodation with the Saudis are still heard within the State Department and elsewhere in the foreign policy apparatus. 

 Neither the Bush Administration nor the Saudis can afford to have explicit and open conflict disrupt important ongoing common interests. Third parties also depend on the smooth flow of oil to markets. Nobody wants a cessation of Saudi oil exports or any other extreme measures, which could cripple America economically, and disrupt our military readiness, not to mention the disastrous consequences for poorer countries.

Nevertheless, it appears to be the case that the Saudis are engaged in a silent slow motion war with George W. Bush’s Administration, aimed at limiting his Presidency to a single term. If they continue with this plan, Republicans can take nothing for granted in November.

Note that this fine article appeared one day before the Madrid bombings and the ensuing surprise victory of the anti-WOT Socialist Zapatero where the world saw that the Islamists could actually effect the outcome of a national election by staging a big terror attack.
The bottom line is that Bush is facing an all out assault on his re-election campaign from both the IslamoFascists (Sauds) and the Democrats (Liberal Left).
Fasten your seat belts, but keep the Faith!
Bush is going to win and we're going to deal with the murderous Saudis someday soon.
(If the President is in any way responsible for the gas price hikes, it's because the Federal Government is topping off our Strategic Petroleum Reserve--essential for wartime.)
And among other reasons for them to hate Bush, the Sauds know that both Iraq's and Libya's oil industries are going to be pumping oil to the West again, as a direct outcome of our successful prosecution of the WOT, and will not want to go along with Saudi plans (as head of OPEC) to keep oil prices artifically high by limiting production.

Hat tip: Charles Johnson the Fab over at Little Green Footballs.