Former U.S. Federal Reserve Chairman Alan Greenspan, with the candor exhibited by once-powerful men in their twilight years, has set the record straight about George W. Bush’ war on terror: It’s the oil, stupid.
Michael Moore has been saying this for years but his goofy, irreverent approach has made it easy to brush him aside. But now Greenspan, a pillar of the Republican establishment for decades, is saying the same thing.
In his memoir “The Age of Turbulence: Adventures in a New World”, Greenspan says:
“I’m saddened that it is politically inconvenient to acknowledge what everyone knows — the Iraq war is largely about oil.”
Oil and who controls it.
The Bush family’s business ties to the oil industry is well known, to the point that they are considered family in the House of Saud. Small wonder then that the war on terror would play out in the Middle East, in the oilfields of Iraq. Bush and the major oil players had to make sure that their economic interests were secured first.
Greenspan says he supported the invasion of Iraq not because Saddam Hussien might have had weapons of mass destruction, but because Saddam had shown a clear desire to capture the Middle East’s oil fields.
“I supported taking out Saddam, because he was moving inexorably toward taking the world’s oil resources”.
This was presumably the Bush administration’s thinking too.
And George W. is in a happy bind. As the body count rises, he has been groping around for an exit strategy from the Iraq quagmire, so far without success. Give the recent surge in U.S. troop deployment time to work, he says. But the only surge working for him is the surge in oil prices, which leaves his personal bottom line in good shape.