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So much for the Sun King's prediction....

With the price of oil hitting US $75 in New York and motorists around the world facing a steep rise in filling up their cars with petrol at the bowser - let alone the impact on economies of countries brought about by rising oil-fuel costs - it is worth reflecting on what has or is causing of all of this.

The Iraq War has been a considerable contributing factor. Then there is the unrest around the world and how that impacts on oil-producing countries. And, finally, there is now the threat of Iran becoming involved in some sort of conflict. Iran is the world's 4th largest producer of oil.

Rewind then...... It will be remembered that almost univerally the News Limited newspapers around the world, and Fox News, were strong supporters of the Iraq War. Rupert Murdoch stumped around the globe supporting the Coalition of the Willing going into Iraq. The rationale? Oil prices would come down. This is how it was reported in The Guardian [see the full article here] back in February 2003, before the Iraq War kicked off:

"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."

So much for taking any notice of Rupert Murdoch. In fact, why should anyone listen to the Sun King? Just because he controls so much media?

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