UPWARD INCOME REDISTRIBUTION SCHEME: RECORD GAS PRICE EDITION

So, another record average gas price.

For the last four years--i.e., since we invaded--up to 15% of Iraq's oil has just...poof!...disappeared. And no one knows exactly why.

But we do know that the average price of gas just hit another record high.

Armed Madhouse Theory

Greg Palast has written about the possible reasons why the oil has "disappeared." In his book "Armed Madhouse," he details the plans for Iraq's oil that were argued over by the neocons and the oil industry.

Long story short, the oil companies won the argument and Iraq is producing far below its capacity and now we learn that even some of that is vanishing into thin air. And why would western oil companies want Iraq to produce less oil?

Simple--it's all part of the income redistribution plan for those who want socialism for the rich and capitalism for the poor. Gas prices are kept artificially high and then, inexplicably, western oil companies have record profits. And the profit records being set are not records for say, this decade, or the last twenty years, or for just the oil industry.

No, that's for chumps--the profits we're talking about are setting records for all time, for all industries, for the entire world.

Iraq "loses" some oil here and there, and ExxonMobil sets records both in profit and gas prices. In the process, more money is extracted from us--i.e., your income, my income, everyone's income is redistributed to the rich.

$60 for a tank of gas

This past Friday, I had to take a long trip and filled up my tank--I got a little over 20 gallons of gas and it cost me almost $59. In late 2001, the average price of gas was around $1.24/gallon.

I have the same job now as I did then and my cost of living raises have not kept pace with this dramatic price increase. What cost approximately $25 in late '01--less than 6 years ago--now costs more than twice that. Good post on this over at Americablog.

Believe me, I could use that extra $25-$35 for, I don't know, an oil change...