Wednesday, June 29, 2005

First ONE....!

Wow I finally got the time to post on my own blog.

Well as of now probably the biggest news, if we can call it news, is that oil prices are $60 a barrel. Wow nice, year and a half ago it was going from 20's to 30's. This of course is good news for the Russians, since their economy 60-65% based on oil/natural gas sales. Although Russians don’t seem to get a lot of benefit from this, since all of their monetary investments go into long-term deposits. A lot of which are in the Western banks.

Now also Bush and his buddies are pretty happy too. I mean it is a win win situation for them, since they are in oil business. If Iraqi insurgency dies, then they can make money by selling Iraqi oil* (plus get profit from servicing the oil industry there), if insurgency continues their attacks on Iraqi oil pipes, they are going to make money again since Halliborton is oil and gas services company. Naturally Bush and his friends all own oil stock, so demand is high prices are high that means stock should be OK (if of course the company does not want to deliberetly bankrupt itself).

If there is ANYONE who thought that this war was not about oil, than they need to see a brain surgeon.

* You know its funny, when US wants to use Iraqi oil to rebuild what US destroyed. It is like if I come in to your house, destroy most of your stuff, and then make you work and use your savings to rebuild what I have destroyed. Actually this is not funny but sad.

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