I only took two courses in Economics in college – so I am no authority. But my 9 year old grandson understands the value of a nickel, some economic concepts are just plain old common sense. Barack Obama has a new television advertisement challenging the profits of Big Oil. My notion is that the advertisement is appropriate – if anything – he does not go far enough.
When we entered the war in Iraq some of the promises were that the oil in Iraq would pay for the war, would pay for reconstruction in Iraq, and reduce the pressure on world oil markets.
The Bush Administration has become an absurd object of monumental distortion.