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How Bush Pushed Up Oil Prices

No newspaper has run the headline, “Bush to American drivers: drop dead!” It’s the biggest press failure since WMD. In fact Bush could easily cut oil prices in half. EXCLUSIVE to subscribers in our latest newsletter Michael Hudson lays out in detail exactly how the Great Oil Price scam works, and who’s benefitting. In 2003 he was on Don Rumsfeld’s bench urging war. Now he’s reinvented himself, yet again. Alexander Cockburn on the twists and turns of a pet intellectual of the Establishment, Fareed Zakaria. Copper, cobalt and zinc and villainy in the Congo: Colette Braeckman gives CounterPunchers the latest chapter in “the race for Africa”. Get your copy today by subscribing online or calling 1-800-840-3683 Contributions to CounterPunch are tax-deductible. Click here to make a donation. If you find our site useful please: Subscribe Now! CounterPunch books and gear make great presents.

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Today's Stories

July 19 / 20, 2008

Dave Lindorff
I Was a Victim of the TSA

July 18, 2008

Corey D. B. Walker
A Kinder, Gentler Imperialism?

Mike Whitney
Swan Song for Fanny Mae

Robert Bryce
Iran Rising

Mike Roselle
Ed's Chicken
: Fighting King Coal in Appalachia

Bouthaina Shaaban
U. S. to Mandela: Happy 90th and You're No Longer a Terrorist

Eve Spangler
The Deaths of Children

Website of the Day
Lowbagger Needs Your Help

 

July 17, 2008

Paul Craig Roberts
Airport Gestapo

James G. Abourezk
Big Oil's Raid on the Great Plains

Ralph Nader
D.C. Socialists Save Crashing Capitalists

Allan J. Lichtman
Conservative Denial

Andy Worthington "Screwed Up" and "Abused": Omar Khadr's Interrogations at Gitmo

Ronnie Cummins
Move Over MoveOn

 

July 16, 2008

Jeffrey St. Clair
Star Whores: How John McCain Doomed Mt. Graham

Paul Craig Roberts
War Crimes Paradox

Conn Hallinan
To the Edge in the Middle East

Dave Lindorff
Torture for Torturers?

William S. Lind
Running the Narrows in Iraq

Christopher Brauchli
Sweepstakes Politics

Website of the Day
History of Iraqi Art

 

July 15, 2008

Michael Hudson
Why the Bail Out of Freddie Mac and Fannie Mae is Bad Economic Policy

Brian Cloughley
Iran's Missile Tests

Patrick Cockburn
Sadr's Militia May Live to Fight Another Day

John Ross
Crunchtime for Mexico's Oil

Howard Lisnoff
When Torture Was Practiced on U.S. Soil

Website of the Day
Rachel Corrie Soccer Tournament

July 14, 2008

Uri Avnery
Will Israel and / or the US Attack Iran?

Paul Craig Roberts
Enabling Tyranny

Trish Schuh
Talking to Iran's Only Jewish Member of Parliament: an Interview with Morris Motamed

Patrick Cockburn
Immunity in Iraq

Mike Whitney
Betancourt Unbound

Alan Farago
Will Miami's Cubans Vote Blue?

Seth Sandronsky
Taxing U.S. Stocks and Bonds

Phyllis Pollack
Stones Paint It Black

Website of the Day
Our Pal in Butte, Jackie Corr, RIP

July 12 / 13, 2008

Alexander Cockburn
Lock and Load--It's the Law!

Jeffrey St. Clair
The Origins of the Western Greens

James Abourezk
Talking World War III Blues: From Dylan to Iran

Nicole Colson
The Ethanol Scam

Stan Cox
Fixing a Broken Agriculture

Ismael Hossein-Zadeh
Is There an Oil Shortage?

Wajahat Ali /
Omid Safi
The Future of Iran: an Interview with Iranian Nobel Laureate Shirin Ebadi

John Stauber
There May be a Left, But is it Moving? An Interview with David Sirota

Alan Farago
The Crash of the King of Liquidity

Missy Beattie
Dark Neighborhoods

Robert Fantina
Bush's Last Yes Man: Canada, Guantanamo and Yankee Poodles

Rannie Amiri
Mubarak Hires the Mosque

Gregory Kafoury
After the Obama Betrayal

Fran Shor
The Audacity of Hype

Martha Rosenberg
Why Heifer International is Rolling in Dung

David Macaray
Will There be an Actors Strike?

Andrew Wimmer
No Lies! No War!

Ron Jacobs
They Call Me the Seeker

Farzana Versey
The Kashmir Chiaroscuro

Kim Nicolini
Angelina Jolie's Wanted: Taking the M-Fers Down with Guns and Exploding Rats

Poets' Basement
Wright, Fleming, Solomon and Birnbaum

Website of the Weekend
Parsing Jesse Ventura

July 11, 2008

Kevin Alexander Gray
Why Does Barack Obama Hate My Family?

Sasan Fayazmanesh
Historical Amnesia and the Shoot Down of Iran Air Flight 655

Peter Morici
Breaking Down the Trade Deficit

Mike Whitney
Worse Than McCain?

Manuel Garcia, Jr.
Oiling the War Machine

Robert Weissman
Crime, Punishment and ExxonMobil

Ramzy Baroud
The Not-So-Historic Barak-Talabani Handshake

Kelly Overton
If There is a Chimp Heaven

Adrian Burgos
In Praise of Jules Tygiel

Website of the Day
Wendell Berry on Mountaintop Removal

July 10, 2008

Brian McKenna
McCain's Melanoma Cover-Up

Paul Craig Roberts
Watching Greed Murder the Economy

Saul Landau
Mississippi River Blues

Ron Jacobs
Who Will Leave Iraq First?

Joshua Frank
Cutting Deals with Big Timber's Darth Vader

Peter Morici
What's Driving the Wall Street Rout

Alan Maass
Jesse Helms Finally Does the Right Thing

Robert Weissman
Humanitarian Failure at the G8

William Blum
Dr. Strangelove

Alan Farago
Coral Reef Meltdown

Website of the Day
Lieberman Must Go!

July 9, 2008

Ismael Hossein-Zadeh
Are They Really Oil Wars?

Luis Rodriguez
The Deadly Fallout from Gang Injunctions

Sheldon Richman
What's Wrong with Selling Your Vote?

Fatemeh Keshavarz
Lessons from Sa'di of Shiraz on "Enhanced Interrogation Techniques"

Chad Hanson
Blowing Smoke: Logging Industry Lies on Forest Fires and Climate Change

Sen. Russ Feingold
The Problems with the FISA Bill

Niranjan Ramakrishnan
Defining Deviancy Down with FISA

Dave Lindorff
Paul Krugman's Blind Spot

Stanley Heller
A Damned Good Assembly

Philip Rizk
Sick at the Gaza Crossing

Website of the Day
Mumia on Nader

July 8, 2008

Nikolas Kozloff
Riding the Colombia Gravy Train

Laura Carlsen
North America Doesn't Exist: the New Geography of Trade

Mike Whitney
Bush's Rampage in Somalia

Andy Worthington
Scandal at Diego Garcia

Patrick Irelan
The Empire Goes to the Movies

Chellis Glendinning
The Un-tied States of America

David Macaray
A Union Story

Dave Lindorff
Mumia's Long-Shot Appeal

John Chuckman
The Myths of Independence Day

Phillip Doe
FISA and the Decline of America

Website of the Day
Daniel Ellsberg on Warrantless Wiretap Bill

July 7, 2008

Patrick Bond
Can Reparations for Apartheid Profits be Won in US Courts?

Kathy Kelly
Cold Shoulders

Andy Worthington
Repatriation as Russian Roulette

Clifton Ross
A Rescue Staged for the Screen

Elizabeth Schulte
Obama's War Room

Ralph Nader
The Patriotism of Deeds

Dave Lindorff
Keeping Count

Binoy Kampmark
The World According to Jesse Helms

Stephen Fleischman
Life, Liberty and the Pursuit of Change

Website of the Day
Time for a Change

July 5 / 6, 2008

Alexander Cockburn
Could Anyone be "Worse" Than Bush?

Jeffrey St. Clair /
Joshua Frank

Preliminary Notes from No Man's Land

Patrick Cockburn
Blowback from a Strike on Iran

Mike Whitney
Hunkering Down in Afghanistan with Field Marshall Obama

Robert Fantina
Obama, Iraq and Change

Binoy Kampmark
The Anwar Case: Snitching and Sodomizing

Rannie Amiri
Can Nasrallah Unite Lebanon?

Eric Ruder
Hidden Casualties

Brian Cloughley
Israel Flexes Its Muscles

William Blum
Some Thoughts on Patriotism

Frank Barat
The One-Word Solution

Christopher Brauchli
Bush's Phony Pollution Accounting

David Yearsley
Rubbert Shines, as US Envoy Puts Foot in His Mouth

Ron Jacobs
U.S. Blues

Karim Makdisi
On Soccer and Politics in Lebanon

Wendy Thompson /
Chris Kutalik

What Can We Learn from the American Axle Strike?

N.D. Jayaprakash
The NPT as a Roadblock to Disarmament

Ramzy Baroud
Journalistic Imperatives

Kelly Overton
Animal Rights and Obama

Richard Neville
Bitch Fights and Tomorrow's Top Model

Poets' Basement
Anderson, Gibbons, Matson and Buknatski

Website of the Weekend
Ginsberg and Cassady on "Extremists"

 

July 4, 2008

Kathy Kelly
Istiklal

Dave Lindorff
My War Story

Paul Krassner
Confessions of a Barista

Jackie Corr
In the Footsteps of Evel Knievel: Obama Heads Back to Butte

Laray Polk
Military-Industrial Convergence

Dan Bacher
Dead Runs: Salmon Fishing Banned in Central Valley Rivers

Walter Brasch
The Rocket's Red Glare--May be Chinese

Charles Modiano
Hall of Fame Hypocrisy

Website of the Day
Springsteen: Independence Day

July 3, 2008

Sharon Smith
Exxon's Legal Guardians

Andy Worthington
Another Torture Victim Gets Charged

Laura Carlsen
NAFTA and the Elephant in the Room

Peter Morici
Crisis Grips the Jobs Market

Ramzi Kysia
Breaking Into a Prison

Martha Rosenberg
Mandatory School Milk and the Early Death of Football Players

Anne Landman
Who Really Benefits From Voluntary Codes of Corporate Conduct?

Dave Zirin
Grand Theft Hoops

Kristin Bricker
US Contractor Leads Torture Training in Mexico

Website of the Day
Bush Tours America to Survey Damage from His Presidency

 

July 2, 2008

Patrick Irelan
Holy Obama

Vijay Prashad
Lunch with Karzai

Brian Cloughley
Sense of Honor, French and US Style

Ralph Nader
Economic Domino Theory

Robert Fantina
General Stupidity: McCain, Obama and Clark

Dave Lindorff
What's So Special About Veterans?

Parvez Ahmed
Obama and Those Pesky Muslim Rumors

Robert Bryce
The Democrats and Off-Shore Drilling

Website of the Day
King Corn: Q&A

July 1, 2008

Alexander Cockburn
Two Months Later, Seymour Hersh Strains to Catch Up With CounterPunch

Mike Whitney
Getting to the Heart of America's Economic Crisis: an Interview with Michael Hudson

Douglas Macgregor
Obama's General?

Steven Higgs
Fighting the NAFTA Super-Highway

Andy Worthington
Guantánamo as Alice in Wonderland

Binoy Kampmark
The Global Seed Police

Dave Lindorff
Blood Money Democrats

Roger Burbach
Fighting Food Fascism

Richard W. Behan
The Story Behind George Bush's Lies

Gary Leupp
The McCain Edge Among Voters on Iraq

Website of the Day
Mountaintop Removal and the Fight for Coalfield Justice


Weekend Edition
July 19 / 20, 2008

The Fanny Mae Bail Out and the Art of Political Graft

Mother's Milk of Politics Turns Sour

By BILL MOYERS and MICHAEL WINSHIP

Once again we're closing the barn door after the horse is out and gone. In Washington the Federal Reserve has finally acted to stop some of the predatory lending that exploited people’s need for money.  And like Rip Van Winkle, Congress is finally waking up from a long doze under the warm sun of laissez faire economics.  That's French for turning off the alarm until the burglars have made their getaway.

Philosophy is one reason we do this to ourselves; when you worship market forces as if they were the gods of Olympus, then the gods can do no wrong -- until, of course, they prove to be human. Then we realize we should have listened to our inner agnostic and not been so reverent in the first place.

But we also get into these terrible dilemmas – where the big guys step all over everyone else and the victims are required to pay the hospital bills – because we refuse to recognize the connection between money and politics. This is the great denial in democracy that may ultimately mean our ruin.  We just don't seem able to see or accept the fact that money drives policy.  It's no wonder that Congress and the White House have been looking the other way as the predators picked the pockets of unsuspecting debtors.  Mega banking and investment firms have been some of the biggest providers of the cash vital to keeping incumbents in office. There isn't much appetite for biting – or regulating – the manicured hand that feeds them.

Guess who gave the most money to candidates in this 2007-08 federal election cycle?  That's right, the financial services and real estate industries. They stuffed nearly $250 million dollars into the candidate coffers.  The about-to-be-bailed-out Fannie Mae and Freddie Mac together are responsible for about half the country's $12 trillion mortgage debt. Lisa Lerer of Politico.com reports that over the past decade, the two financial giants with the down home names have spent nearly $200 million on campaign contributions and lobbying. According to Lerer, “They’ve stacked their payrolls with top Washington power brokers of all political stripes, including Republican John McCain’s presidential campaign manager, Rick Davis; Democrat Barack Obama’s original vice presidential vetter, Jim Johnson; and scores of others now working for the two rivals for the White House.”

Last Sunday's New York Times put it as bluntly as anyone ever has: “In Washington, Fannie and Freddie's sprawling lobbying machine hired family and friends of politicians in their efforts to quickly sideline any regulations that might slow their growth or invite greater oversight of their business practices. Indeed, their rapid expansion was, at least in part, the result of such artful lobbying over the years.”

What a beautiful term: "artful lobbying."  It means honest graft. Look at any of the important issues bogged down in the swampland along the Potomac and you don't have to scrape away the muck too deeply to find that campaign cash is at the core of virtually every impasse.  We're spending more than six percent of our salaries on gasoline, and global warming keeps temperatures rising but the climate bill was killed last month and President Bush just got rid of his daddy's longtime ban on offshore drilling.  Only in a fairy tale would anyone believe it's just coincidence that the oil and gas industries have donated more than $18 million to federal candidates this year, three-quarters of it going to Republicans. They've spent more than $26 million lobbying this year – that's seven times more than environmental groups have spent.  
Follow the money – it goes from your gas tank to the wine bars and steak houses of DC, where the payoffs happen. Or ponder that FISA surveillance legislation that just passed the Senate. It let the big telecommunications companies off the hook for helping the government wiretap our phones and laptops without warrants. Over the years those telecom companies have given Republicans in the House and Senate $63 million dollars and Democrats $49 million.  No wonder that when their lobbyists reach out and place a call to Congress, they never get a busy signal.  Do the same without making a big contribution, and you'll be put on "hold" until the embalmer shows up to claim your cold corpse.

The late journalist Meg Greenfield once wrote that trying to get money out of politics is akin to the quest for a squirrel-proof birdfeeder. No matter how clever and ingenious the design, the squirrels are always one mouthful ahead of you. Here's an example. Corporations are limited in how much they can contribute to candidate's campaigns, right? But someone's always figuring out how to open another back door.  So Democrats have turned to Steve Farber. He's using the resources of his big K Street law and lobbying factory to help raise $40 million for the Democratic National Convention. Half a dozen of his clients have signed up, including AT&T, Comcast, Western Union and Google. Their presence at the convention will offer lots of opportunities to curry favors at private parties while ordinary delegates wander Denver looking for the nearest Wendy's. By the way, just as you pay at the gas pump for those energy lobbyists to wine and dine your representatives in Washington, you'll pay on April 15 for Denver –corporations can deduct their contributions.

Another back door – one quite familiar to Steve Farber and his ilk – leads to presidential libraries.  Bill Clinton’s in Arkansas required serious political bucks, and we're not talking penny ante fines for overdue books.

Again, there's no limit to the amount a donor can give and no obligation to reveal their names. Clinton's cost $165 million and  we still don’t know the identities of  everyone who put up the dough, even though four years ago a reporter stumbled on a list that included Arab businessmen, Saudi royals, Hollywood celebs and the governments of Dubai, Kuwait, Qatar, Brunei and Taiwan. Hmmm…

Once George W. is out of the White House, he, too, plans what one newspaper described as a “legacy polishing” institute – a presidential library and think tank at Southern Methodist University in Dallas costing half a billion dollars.  Last Sunday, The Times of London released a remarkable video of one of the president's buddies and fund raisers –Stephen Payne, a political appointee appointed to the Homeland Security Advisory Council.

The Times set him up in a video sting, and taped a conversation in which Payne offers an exiled leader of Kyrgyzstan meetings with such White House luminaries as Vice President Cheney and Condoleezza Rice – provided he makes a whopping contribution to the Bush Library, and an even bigger payment to Payne's lobbying firm. Payne tells him, “It will be somewhere between $600,000 and $750,000, with about a third of it going directly to the Bush Library... That's gonna be a show of 'we're interested, we're your friends, we're still your friends.'”

The White House denies any connection between library contributions and access to officials and harrumphed at the preposterous idea that Payne had a close relationship with the President. Unfortunately, there's at least one photo of Payne with the President cutting brush at his Crawford ranch. There’s also one of Payne demonstrating more guts than common sense, on a rifle range with Deadeye Dick Cheney.

Payne, who now is supporting John McCain, says he's done nothing wrong, but a congressional investigation intends to find out. So from the financial meltdown brought on by predatory lending to global warming to tax breaks and other favors, the late California politician Jesse "Big Daddy" Unruh got it right: Money is the mother's milk of politics.  He knew what he was talking about, because Big Daddy swigged it by the gallon.  Now it has curdled into a witch's brew. 

Bill Moyers is managing editor and Michael Winship is senior writer of the weekly public affairs program Bill Moyers Journal, which airs Friday night on PBS.  Check local airtimes or comment at The Moyers Blog at www.pbs.org/moyers.

 

 

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Grand Theft Pentagon
How They Made a Killing on the War on Terrorism

 

 

 

 

 


The Occupation
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Humanitarian Imperialism
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CITY BEAUTIFUL
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