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Rupert Murdoch Claims: "Oil prices will drop to $20 a barrel"
Most revealing of all was Murdoch's reference to the rationale for going to war, blatantly using the o-word. Politicians in the United States and Britain have strenuously denied the significance of oil, but Murdoch wasn't so reticent. He believes that deposing the Iraqi leader would lead to cheaper oil. "The greatest thing to come out of this for the world economy...would be $20 a barrel for oil. That's bigger than any tax cut in any country."
Monday February 17, 2003
What a guy! You have got to admit that Rupert Murdoch is one canny press tycoon because he has an unerring ability to choose editors across the world who think just like him. How else can we explain the extraordinary unity of thought in his newspaper empire about the need to make war on Iraq? After an exhaustive survey of the highest-selling and most influential papers across the world owned by Murdoch's News Corporation, it is clear that all are singing from the same hymn sheet. Some are bellicose baritone soloists who relish the fight. Some prefer a less strident, if more subtle, role in the chorus. But none, whether fortissimo or pianissimo, has dared to croon the anti-war tune. Their master's voice has never been questioned.
What a guy indeed!!! Here's a billionaire media tyrant, who owns close to 200 newspapers around the world, plus TV stations, cable enterprises and a satellite TV network.
Yet, with all of that ability to acquire knowledge, Murdoch fell woefully short predicting that the price of oil would drop to $20 a barrel, after the invasion of Iraq.
Murdoch's Fox News Corporation has been a ruthless cheerleader for both the run-up to the Iraqi war and the current occupation.
His media empire is now waving its pom-poms and leading the cheer for the upcoming war against Iran.
Gosh, maybe if we invade Iran, then the price of oil will drop to only $85 a barrel, huh, Rupert?