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Controversial theory presented at Rotary

Lancaster Online
Oil expert discusses high prices
Controversial theory presented at Rotary

By Patrick Burns
Intelligencer Journal

Published: Mar 28, 2005 9:12 AM EST

LANCASTER COUNTY, PA - A controversial oil industry expert speaking earlier this month at the Lancaster Rotary Club said the U.S. government is responsible for record-high gasoline prices.

James R. Norman, a former editor of Forbes magazine and a senior writer with a prominent oil industry newsletter, said high oil prices are part of a National Security Administration policy to prevent the superpower Chinese from achieving global dominance.

Norman, who also spoke at two other venues in Lancaster this month, said there is a long-term economic strategy in place to restrain Chinese growth through artificially high oil prices.

By creating "paper demand" for oil on the New York Mercantile Exchange, large U.S. oil companies, the Saudis and the Bush administration have conspired to nearly triple world oil prices from about $20 a barrel in New York at the start of 2002, according to Norman.

More at Lancaster Online

Posted on Wednesday, March 30 @ 03:46:48 PST by BabyPeanut

Most read story about Public Policy; Political and Legal News:
ARE We Out of Gas Yet?

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What is the biggest flaw in this theory? (Score: 1)
by BabyPeanut on Wednesday, March 30 @ 04:18:43 PST
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What a slice of baloney!
What is the biggest flaw in this theory?
So many to choose from.

I'd say the part about restraining Chinese growth shines through.

If they wanted to restrain Chinese growth they wouldn't be outsource to China for starters. There wouldn't be Wal*Fart either.

Re: Controversial theory presented at Rotary (Score: 1)
by BabyPeanut on Wednesday, March 30 @ 04:20:23 PST
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This theory suggests that the US having seen a parade, jumps in front of it and proclaims "look at all the people following me!"

Re: Controversial theory presented at Rotary (Score: 1)
by lutherquick on Wednesday, March 30 @ 04:21:13 PST
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This is so stupid.

It's another way of making the PNAC look as if something was planned.

There is NO planning in America, ZERO...

Re: Controversial theory presented at Rotary (Score: 1)
by wkwillis on Wednesday, March 30 @ 09:50:48 PST
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The amount of money the Chinese are spending importing oil is much less than the amount of money the Chinese are spending supporting us in Iraq by buying treasury bills. China is consciously using us to walk through the minefield for them to fetch them oil. We are only able to fight in Iraq because they have crappy, obsolescent weapons like AK47s and RPGs. The Chinese won't sell the Iraqis modern sniper rifles that can penetrate American body armor, or modern antitank weapons that can destroy US tanks, or modern antiaircraft missiles that can shoot down American attack aircraft (helicopter and fixed wing) precisely because they are afraid that if they do we will just go home when our casualties go up.
If the Arabs have nukes from Russia, or from Pakistan, or from a technology breakthrough, the Chinese would rather that we found out instead of them.

Re: Controversial theory presented at Rotary (Score: 1)
by goethe93 on Thursday, June 01 @ 02:31:56 PDT
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