Thursday, August 21, 2008

The Axis Of Oil What do Vladimir Putin, Hugo Chavez and Islamic extremists have in common? They're funded by America's thirst for foreign oil. If drilling isn't a cure by itself, it's a start. The resurgent Russian empire is one of the big winners in the massive wealth transfer that has taken place in recent years with rising oil prices. OPEC countries are cleaning up, too. The U.S., which consumes 24% of the world's oil while producing just 10%, is the main source of the oil powers' new riches. Not all this money goes into war, terrorism or other evils. Some is used to build over-the-top commercial real estate projects in places such as Dubai. Quite a bit finds its way back to the U.S. to finance our national debt....

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