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Are They Really Oil Wars?

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            [11] The Wall Street Journal (17 May 2001); cited in Eliyahu Kantovsky, Ibid.; see also Bill Kovarik, “The Oil Reserve Fallacy: Proven reserves are not a measure of future supply,http://www.radford.edu/~wkovarik/oil/

            [12] F. William Engdahl, “Perhaps 60% of Today’s Oil Price Is Pure Speculation,” financialsense.com (2 May 2008), http://www.financialsense.com/editorials/engdahl/2008/0502.html

            [13] Ibid.

            [14] Stanley Reed, “Help from the House of Saud: Why the leading oil producer wants to cool off the market,” Business Week (29 May 2008), http://www.businessweek.com/print/magazine/content/08_23/b4087030945015.htm

            [15] Ibid.

            [16] Cyrus Bina and Minh Vo, “OPEC in the Epoch of Globalization: An Event Study of Global Oil Prices,” Global Economy Journal, Vol. 7, Issue 1 (2007); for a discussion of the theory and history of oil price determination see also, Cyrus Bina, “The Rhetoric of Oil and the Dilemma of War and American Hegemony,” Arab Studies Quarterly 15, no. 3 (Summer 1993); also Cyrus Bina, “Limits of OPEC Pricing: OPEC Profits and the Nature of Global Oil Accumulation,” OPEC Review 14, no. 1 (Spring 1990).

            [17]. F. William Engdahl, “Perhaps 60% of Today’s Oil Price Is Pure Speculation,” financialsense.com (2 May 2008), http://www.financialsense.com/editorials/engdahl/2008/0502.html

            [18] Cyrus Bina and Minh Vo, “OPEC in the Epoch of Globalization: An Event Study of Global Oil Prices,” Global Economy Journal, Vol. 7, Issue 1 (2007).

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            [19] Gary S. Becker, “Why War with Iraq Is Not about Oil,” Business Week (17 March 2003): 30.

            [20] Johnathan Nitzan and Shimshon Bichler. The Global Political Economy of Israel (London and Sterling, Virginia: Pluto Press, 2002).

            [21] Melinda K. Ruby, “Is Oil the Driving Force to War?” unpublished Senior thesis, Dept. of Economics and Finance, Drake University, Des Moines, Iowa (spring 2004), 10.

            [22] As quoted in Ruby, Ibid., P. 13.

            [23] As cited by Roger Burbach, “Bush Ideologues vs. Big Oil: The Iraq Game Gets Even Stranger,” http://www.counterpunch.org/burbach10032003.html

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            [24] Israel Shamir, The Writings of Israel Shamir, Contributor 45, http://www.israelshamir.net/Contributors/Contributor45.htm

            [25] Stephen F. Cohen “The New American Cold War,” The Nation (10 July 2006), http://www.thenation.com/doc/20060710/cohen ; as quoted in Shamir, Ibid.

            [26] Shamir, Ibid.

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Ismael Hossein-zadeh is a professor of economics at Drake University, Des Moines, Iowa. He is the author of the newly published book, The Political Economy of U.S. Militarism His Web page is http://www.cbpa.drake.edu/hossein-zadeh

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