Oil-rich countries tap into new political power

[deadparrot]

A financial windfall brought on by rising energy prices has emboldened several oil-rich nations to challenge U.S. foreign policy and given them more leverage with U.S. allies that rely on oil imports.

Challenges are coming from an increasingly assertive Venezuela and Iran and a Russia no longer dependent on Western handouts. "Oil is the new currency of foreign policy," says Senate Foreign Relations Committee Chairman Richard Lugar, R-Ind. Iran and Venezuela are "not only less cooperative but almost gleeful that they are able to make trouble for us," Lugar says. "These are huge changes that have not been comprehended by most of the U.S. public."

Oil prices have been driven up by rising global demand, particularly in China and India. The USA remains the world's biggest importer and consumer. It imports more than 12 million barrels of oil a day and uses more than 20 million barrels a day, or 14% of the global supply, the Department of Energy says.

U.S. concerns have focused on three nations:

http://news.yahoo.com/s/usatoday/oilrichcountriestapintonewpoliticalpower

[oneighty]

1. Oh my!

How very capitalistic of them. They have learned well about supply and demand.

We all always knew it would happen one day.

Not that I am happy about it. We will have to adjust to the 'New World Order' not being the one G.H.W. Bush planned on.

180

[lcordero2]

2. I'm surprised that an ultimatum hasn't been handed down like this

"You have x amount of days to leave Iraq...or else."

[bemildred]

4. Why would they want us out of Iraq?

It keeps oil prices high and our military hamstrung.
It's a gift.

[Coastie for Truth]

3. Predicted ---

1. A Century Of War: Anglo-American Oil Politics and the New World Order by F. William Engdahl

2. Twilight in the Desert: The Coming Saudi Oil Shock and the World Economy by Matthew R. Simmons

3. The Prize: The Epic Quest for Oil, Money & Power by Daniel Yergin

Yergin has published quite a bit on the issue of oil as the "new currency."

If you actually go into the and read through the turgid prose - disregarding William Kristol's "wet dreams" -- this is predicted and is the justification for our military misadventure in Iraq (Iraq is a war for oil hegemony - that is the whole issue "OIL")