Cartoon 775: Bamboozled

Miraculously there seems to be all this oil and gas energy available in America now. The timing of this revelation seems highly suspicious. The discovery seems coincident with a realization by our energy companies that they are not going to get absolute control over a major Middle East oil source, Iraq. I suspect Dick Cheney, through his energy taskforce, made the promise. That is probably the reason why there is such secrecy surrounding the minutes of the meetings. The notes would make it absolutely clear that our invasion of Iraq was purely for the oil interests.

Americans are deceived over and over again. Unfortunately most of it is a self induced delusion. We fool ourselves. A case in point is the proposed energy pipeline from Canada to a west coast southern deep water port. The Canadian government is upset over the delay and said they will just ship their energy to Asia and not to America for sale. 

Look beyond the fog surrounding the issue. American tax payers are subsidizing the enormous expense of the pipeline through tax and regulation incentives. The stated reason it help America toward achieving energy independence. The reality is something else. The major energy companies have already applied to the government for permits to export the new energy bonanza. Why would the energy companies supply America, when they can get more money for oil elsewhere? The price for gas is also higher elsewhere.

Here is how the game is played. First, the tax payers pay for the infra structure of transport and financially facilitate extraction. Next, to acquire the resource, the tax payers will have to pay a substantially higher price. A price commensurate with the best of the world markets. The energy companies laugh all the way to the bank. The American public is bamboozled.