The real reason we invaded Iraq

Corporate Profits, Iraq War, and George Bush

Posted by pennyronning on February 3, 2008

al.jpg Guest author, retired MAD Magazine editor, Al Feldstein writes:

Nearly 4000 innocent American G.I.’s have died… over 29,000 American G.I.’s have been wounded and maimed… and over a million Iraqis have been slaughtered, wounded or maimed in the Bush Administration/PNAC/NeoilCon’s “War In Iraq”…which was started in order to stop Saddam Hussein, with the help of the French, the Germans, the Russians and the Chinese, from extracting Iraq’s oil and marketing it outside of the control of OPEC and America’s “Big Oil” Companies.

Here are this Quarter’s results:

Exxon shatters profit records: Oil giant makes corporate history by booking $11.7 billion in quarterly profit; earns $1,300 a second in 2007.

Chevron 4th-Quarter Profit Rises on Record Oil Prices : Fourth-quarter revenue climbed 29 percent to $61.4 billion, Chevron said. Price gains more than made up for a 1.6 percent decline in oil and natural-gas production.

Shell Rakes in $8.5 Billion in Three Months: Royal Dutch Shell, the world’s second-largest publicly traded oil company, today reported net income up 60 percent last quarter to a record $8.47 billion

In contrast…

When America was attacked by Japan at Pearl Harbor in 1941…and the U.S. declared war on Japan, Germany and ItalyPresident Roosevelt announced that no one was going to make any money out of that war! shock.jpg

He asked the Congress to pass two bills to fund that war: the “Corporate Excess Profits Tax” (which set 1940 as a benchmark and taxed all Corporate profits above that amount at hugely increasing tax rates…and the “Individual Progressive Income Tax” (which taxed individual incomes progressively over a base amount…increasing up to 95%.

There were no obscene Corporate Profits like those above… and no Corporate executives… no movie stars or sports figures keeping a major portion of their multi-million dollar salaries… as they do today.

Every Corporation and every Individual contributed to the funding of America’s participation in World War II.

Not like today.

Today…our Treasury has been ransacked…our National Debt has rocketed sky high…and the ordinary citizen is paying for this “Iraq War” and the War on Terrorism… while America’s millionaires and America’s Big Corporations are raking it in, enjoying their low taxes and stuffing their pockets.

How are you doing financially? Are you madlogo.jpg ?

Incidentally, gasoline was about $1.00 a gallon in 2000…shortly before Bush entered office.

MAD-ly yours,
Al Feldstein


7 responses to “The real reason we invaded Iraq

  1. Unfortunately in Europe there is too silence about these facts.
    I think that these news will come here in some weeks (really!).
    However, In Italy the petrol, as reported here costs about 1.39 euro per litre (that is about 2 dollars). What do we have to say?!
    They say us “that the War was necessary to free Iraq etc etc”, because Saddam was evil and Bush good. You can say all what you want, but today USA commands the World: it’s the raw truth. We all know that the war in the east was necessary because they had “too much petroleum”. Another tartget is Iran. I hope they will come to an understanding (the same or better than the one done in Italy after the 2nd mondial war).


  2. can you break down those financial results based on how exactly the Iraq war has impacted oil sales and price. Direct correlations please, including statistical analysis. Also, be sure to discount the impact of Russia on oil prices and the impact of Chavez on oil prices. I would like to see some decent analysis instead of broad brush painting like you have done.
    Thank you in advance.

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  3. Pingback: The Iraq War

  4. Actually Paul, I can’t. This was a message posted by someone else (pennyronning), who was forwarding someone else’s writing (Al Feldstein – which I thought was clearly stated). I thought it was interesting, so I added it to my blog. I don’t really care about the oil prices. I care about the deaths, and the difficulty of the US getting out of Iraq, and the wrong reasons stated for going in. My nephew was lucky to serve there and get out. My niece may not be so lucky. The damage being done to the US goes beyond any increase in oil prices.

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