'Intelligent discontent is the mainspring of civilization.' -- Eugene V. Debs

Tuesday, September 07, 2004

What a Coincidence 

Does anyone else remember that last April Bob Woodward told "60 Minutes" that the Saudis had promised Bush they'd cut oil prices before the US election? Here's a memory aid: (Woodward speaking)

They're (oil prices) high. And they could go down very quickly. That's the Saudi pledge. Certainly over the summer, or as we get closer to the election, they could increase production several million barrels a day and the price would drop significantly.

Did anyone notice that the Saudis are keeping their promise? From Reuters today:

U.S. oil prices fell on Tuesday after top exporter Saudi Arabia deeply cut prices for its crude sales to Europe and the United States to shift the large volumes it is offering to cool world markets.

However, last month as oil prices reached record levels, Prince Abdullah called Woodward's allegation of a secret agreement with the White House "pure fiction" so the price cuts' pre-election timing must just be a coincidence. Of course, if the timing wasn't a coincidence, such loyalty to Bush supports the veracity of an old story Senator Graham has been bringing up a lot lately...

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