Exxon Mobil-Irving, Tx
Exxon is #2 on the Forbes Fortune 500 list, the biggest oil company in the US and 2nd in the world. It is the most profitable company in Forbes Fortune 500 list. One month before the war in Iraq started their stock was trading at $33.44 per share. Today Exxon’s stock closed at over $64.33 per share; a 91% increase since the onset of the Iraq war and oil prices have increased more than 160%.
Chevron Corporation-San Ramon, Ca
Chevron, who now owns Texaco, is the 2nd largest oil company in the US. One month prior to the start of the war in Iraq their stock was trading at around $34 per share. Today Chevron Phillips stock price closed at $64.31 per share; an 89% increase since the lead up to the war.
Conoco Phillips- Houston, Tx
Conoco Phillips is the 3rd largest oil company in the US. One month prior to the start of the Iraq war their stock was trading at $24 per share. Today Conoco Phillips stock price closed at $70.18; a 188% increase since just before the Iraq war began.
Halliburton-Houston, Tx
Halliburton, who seized many no bid contracts that had nothing to do with their connection to Vice President Dick Cheney, saw their stock price increase from $19.19 in February of 2003 to a close today of $66.73; a 247% increase. 99% of Halliburton’s political donations go to Republican candidates.
Ok, I know that the DJIA historically goes up over time, not as much when there is a Republican President, but these companies I have mentioned far out paced the Dow Jones industrial average which has grown 40% since the 1st quarter of 2003 before the Iraq war. If you want to compare apples to apples we can look at another Fortune 500 company like Ford who has only seen a 14% increase in their stock price over the same time period.
DJIA:
Is it just a coincidence that Cheney and Bush come from oil industry backgrounds, as does Bush senior? Is it just a coincidence that Iraq, an OPEC nation (not for long), was about ready to switch the sale of their oil from the Dollar to the Euro? Is it just a coincidence that in 2000 the oil and gas industry contributed 7 million dollars to Democratic candidates compared to 26.7 million (78%) that went towards Republican candidates? Was the war in Iraq motivated by money and profit? I report, you decide.
15 comments:
Yes, all these things are coincidences. Studies have shown that in the past five years the number of total coincidences has gone up 1400%.
Of course the war was motivated by profit. This is after all an oil man first and foremost. Hence the reason he falls apart when he has to show any leadership skills.
Well, it was actually a rhetorical question.
We all know that war is good for the economy. Usually. In this case it seems to be good for corporations only. Wait until construction on New Olreans starts. War and Building Projects are always profitable.
World War 2 was very profitable for pretty everyone in the US. Maybe all of our major military contractors paid off FDR to declare war on Germany even though the Nazis never directly attacked us.
Interesting.
I should have bought stock in flag kits when the terrorists attacked the trade center.
Yes I have learned an important lesson; I should have invested in Halliburton before the war.
RE: Justin
Well we didn't occupy, nor rebuild Iraq the first time around. It did do wonders for oil prices though.
Invest in Halliburton and construction companies.
I'm sure it's all just a coincidence. Karl Rove said so.
Purely coincidence- sure. Nice work Toad, with facts like these its hard for the corporate crowd to hide behind the stated goals of this war. Its all about Iraqi Freedom, and if Bush's cronies get rich in the meantime so be it. Liars and war profiteers.
Uhh, dude its no secret that war is extremely profitable...not to mention the fact that no president has ever been ousted while we were at war,...at least I don't think.
Again, this was kind of a rhetorical question.
Agreed, Imagine putting $2000 in Conoco stock 2 years ago; today it would be worth $5845.
I missed the part where you demonstrated causality.
What do you mean causality? Bush, Bush Sr., and Cheney all want to get rich and keep their rich voting buddies who contribute to their cause rich as well, so what better way to do that than double the price of oil and give Halliburton no-bid contracts to rebuild Iraq. It's pretty simple.
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