Black Gold Roundup

I know Outsourced America referred to USA Today as "America's Coloring Book," but sometimes they do come up with good stuff. Under the headline for this article titled, "Oil Money Up To No Good," I found this little tidbit:

Following the Sept. 11 attacks, the Saudis met U.S. demands by ending government support for Islamic charities linked to terrorism. But individuals in the kingdom continue to send cash to groups that support anti-American terrorists.

"We know wealthy Saudis are funding terror. With higher oil prices, they just have more money to do so," Bronson says.

Starting that war in Iraq looks smarter and smarter all the time, doesn't it? Let me see now...where was it that 15 of the 19 9/11 terrorists came from again (with another anniversary coming up soon, of course)? No, don't tell me, I'm keen to guess.

Oh, and I JUST KNOW Pat Robertson will be interested in reading THIS part (and Bushco slapped him down for saying in public what the true goal towards Chavez is in private).

Soaring oil prices also are causing problems closer to U.S. shores. In Venezuela, President Hugo Chavez, flush with record oil revenue, is sending subsidized oil shipments to Cuba's Fidel Castro and increasing military spending. Earlier this month, Venezuela announced a purchase of long-range surveillance radars from China. The U.S. has accused Chavez of funneling arms to leftist rebels in neighboring Colombia, which he denies.

At home, Chavez has lavished oil money on his constituents in Venezuela's poorest neighborhoods. Through "Mission Mercal," a network of government-run groceries, Chavez provides half-priced food to more than 10 million people.

The social largesse cements the president's political standing. But economists such as Claudio Loser, former head of the IMF's Western Hemisphere department, say such spending can't continue indefinitely. Already, inflation is galloping at 18% annually and is expected to hit 25% next year.

Also, it turns out that, according to this article, China, having just been jilted in a bid to buy Unocal, is trying to buy a major oil producer in Kazakhstan for $4.2 billion, though they're getting competition from India on this. I guess they both need all the power they can get, since it looks like China will be building the PCs and India will be writing all the code for them (Eckert and Mauchly must be doing somersaults in their graves right about now).