Follow the Money: Who Profits?
In the four years leading up the Iraq War Exxon averaged a yearly net profit of $11.95 Billion. In the years since George Bush, started the Iraq War Exxon has averaged a yearly net profit of $32.6 Billion, an increase of 273% over the pre Iraq War average profit.
Year Exxon's Profit in
Billions of Dollars
1999 7.9
2000 10.9
2001 17.5
2002 11.5
2003 21.5
2004 25.3
2005 36.1
2006 39.5
2007 40.6
This is Disaster Capitalism at it's finest. Whether or not Exxon and the other Oil Companies lobbied Bush and Cheney for War in Iraq, it has certainly proved to be VERY profitable for them. War and instability in the Persian Gulf and the resulting speculation on the oil market has made the oil reserves the Oil Companies already owned much more valuable. Exxon and the Oil Companies didn't need one drop of Iraqi oil to make a killing on the War in Iraq.
In the run up to the 2000 election only Enron (with $1.8 Million) was more generous to Mr. Bush and the G.O.P. than Exxon (with $1.2 Million)
Bush energy plan: Policy or payback?
In return since then Bush has acted as the loyal servant of Exxon, doing numerous favors for Exxon, most recently threatening to veto the Windfall Profits Tax on the Oil Companies' astronomical profits.
This 2006 Bush favor for Exxon was also a standout.
Bush Names Exxon Chief to Chart America's Energy FutureThursday 02 November 2006
Even for an administration dedicated to putting industry lobbyists in charge of the very agencies they have devoted their careers to undermining (coal and oil lobbyist J. Stephen Griles as Deputy Secretary of the Interior is one of dozens of examples), President Bush has recently outdone himself. He has named Lee Raymond, the retired chief of ExxonMobil, to head a key study to help America chart a cleaner course for our energy needs. Raymond currently chairs the National Petroleum Council (NPC), one of the most powerful lobbies in Washington.
Where will it stop? Exxon's anti-environmental former CEO is now busy charting this country's energy future in an era of Global Warming. Another major disaster in the making.
Just the other day Bush again threatened to attack Iran, despite the new N.I.E. on Iran's lack of nuclear capabilities. Will an attack on Iran be Bush's parting favor for Exxon and the other Oil Companies.
dick Cheney, and the hard liners on the Far Right in both the U.S. and Israel are clamoring for war with Iran. They would loudly applaud this new criminal aggression.
Will $300 a barrel oil be the next triumph of Bush's Disaster Capitalism?
crossposted at D-Kos
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