[lbo-talk] Chomsky on Hersh & the leaked info he reported

[Jim Devine]

anyone who owns oil wells (i.e., the oil resource itself) gains from
high oil prices, if the political situation allows the exploitation of
the resource. However, I don't think Bushie engineered the situation
to benefit his friends. He doesn't have that much power. Besides, his
clique's interest is not in high or low oil prices as much as
_control_ over oil with stable prices (at a higher level than we would
like, but probably lower than $70/barrel). Also, they like getting rid
of any government regulation of business unless it directly profits
the in-crowd.

On 4/19/06, Doug Henwood <dhenwood at panix.com> wrote:
> Mike Ballard wrote:
>
> >I think oil was over $70 a barrel today.  Cui bono?  Schrub's Texan oilman
> >pals?
>
> Certainly not Bush's approval ratings, which are strongly negatively
> correlated with the price of gas. A simple linear regression of the
> nominal gas price against W's Gallup approval rating has an r2 of
> .69; of the log of the gas price, .75. Based on this, should gas hit
> $3.00, W's approval rating could hit 30% or below (latest is 37%).
>
> Doug
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--
Jim Devine / "There can be no real individual freedom in the presence
of economic insecurity." -- Chester Bowles