Oil prices spiked 6% in trading today on news that the Muammar Kadafi is using fighter-bombers against his pro-democracy protesters. Republican Governors in the US are green with envy. Corporate media in the US are dutifully reporting that gasoline prices in the US are going to shoot up as a result. No mention of the fact that the big oil companies secured their supplies when prices were under $20/barrel and are just using the phony supply crisis to jack up prices.
The so-called market price used to be called the spot market as in “we’ve got a spot of surplus oil today, who’d like to buy it cheap?” Then they discovered that the typical uninformed American could be easily deceived into thinking that was the actual cost of oil and then they started having record profits.
Pro-democracy protesters in Madison Wisconsin are into their second week with surging crowds today as this is a mandatory unpaid furlough day for State workers. A week of unpaid days was negotiated under the previous Democratic Governor.
The current rightwing thug says he won’t accept the union’s offer to give into all his fiscal demands saying that if he allows them to retain the right to bargain that they will renege later. He doesn’t seem to grasp what a contract is or rather he hopes that average voter doesn’t. In fact he barely won election and has no hope of a second term but if he destroys the unions he can count on the Koch brothers who funded his narrow victory to make him a very rich man.
One part of the economy in Madison is doing very well as ubiquitous pizza parlors are getting calls from across the US and from a dozen foreign countries to purchase pizza for the pro-democracy protesters. This includes Egypt where the unions are closely following the outcome of the protest. It might seem strange that Egyptians would even know where Madison was let alone what a pizza is, but the UW’s huge engineering school has likely educated thousands of Egyptian students over the decades. The unusually liberal city of Madison is a place where they could have learned about unions, democracy and peace as well as pizza.