Gas Week

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“The Iraq war is largely about oil”, says ex-US Fed Reserve chair, Alan Greenspan

Posted by gasweek on 26 September, 2007

 Former Federal Reserve chair Alan Greenspan created another Iraq-related crisis for the Bush Administration, alleging in his new memoir that “the Iraq war is largely about oil”, reported The Canberra Times (18/9/2007, p.7).

And he should know . . .: Dr Greenspan, who as head of the US central bank was famous for his tight-lipped reserve, was uncharacteristically direct, and also accused President George W. Bush of abandoning Republican principles on the economy. “I’m saddened that it is politically inconvenient to acknowledge what everyone knows – the Iraq war is largely about oil,” he wrote in reported excerpts of The Age of Turbulence: Adventures in a New World, which hit the shelves over­night. Dr Greenspan’s memoir appeared 18 months after he left the Fed after a career that spanned from 1987 to 2006, with the US economy at a crossroads, and ahead of a critical central bank meeting under the chairship of his successor, Ben Bernanke.

The Canberra Times, 18/9/2007, p. 7

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