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By Kevin Phillips

From America's most well known political analyst, an explosive exam of the axis of faith, politics, and borrowed funds that threatens to smash the country In his most modern big apple occasions bestselling books, American Dynasty and Wealth and Democracy, Kevin Phillips verified himself as a strong critic of the political and financial forces which are ruling-and imperiling-the usa. Now, Phillips takes an uncompromising view of the political coalition, led by means of radical faith, that's riding the United States to the threshold of catastrophe. From historic Rome to the British Empire, Phillips demonstrates that each international- dominating strength has been introduced down by means of a comparable set of factors: a deadly blend of worldwide over- achieve, militant faith, source difficulties, and ballooning debt. it truly is this similar axis of ills that has come to outline America's political and fiscal id long ago decade. army miscalculations within the heart East, the surge of fundamentalist faith, the astounding nationwide debt, the prices of U.S. oil dependence-together those elements are undermining our nation's safety, solvency, and status on the planet. If left unchecked, a similar forces will carry a debt- bloated, preachy, energy-starved the US to its knees. With a watch at the earlier and a searing imaginative and prescient of the long run, Phillips has written a booklet that no American can have the funds for to disregard. compliment for Kevin Phillips and American Dynasty: "[Phillips] is a deep philosopher extraordinaire, who does a masterful activity of connecting the army- commercial dots. . . . A searing indictment of the Bush Dynasty." -Douglas Brinkley, mom Jones "Devastating . . . a major, troubling publication that are supposed to be learn all over with care, nowhere extra so than during this city." -Jonathan Yardley, The Washington submit booklet international

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Extra info for American Theocracy: The Peril and Politics of Radical Religion, Oil, and Borrowed Money in the 21st Century

Example text

42 The year 2005, with its high oil prices, brought more candor about future supplies from the major oil companies and the press, if not from the Bush administration. "Big Oil Warns of Coming Energy Crunch," reported the headline in the Finandal Times. 43 In a new advertisement ExxonMobil acknowledged that "the world faces enormous energy challenges. " Meanwhile, a company publication, "The Outlook for Energy: A 2030 View," predicted that oil production ouside OPEC would peak in just five years.

ExxonMobil, foreign observers reported, hoped to get the Majnoon field, with its twenty to twenty-five billion barrels. 58 As early as 1995, The Wall StreetJournal reported a consensus that Iraq, with its huge resources and very low production costs, was "the biggie" in terms of future production and oiHirm global pecking order. S. K oil giants stood to make from control over Iraqi oil reserves estimated at close to four hundred billion barrels: "In order to understand the magnitude of these profits, it is useful to know that the worldwide profits of the world's five largest [private] oil companies in 2002 were $35 billion.

10 Beyond Capitol Hill, other federal pressure was usually suspect. By World War II, Texas oilmen were lamenting "incipient socialism" in the regulatory approach of Roosevelt and the execu(ive branch. The Democratic share of the presidential vote in upper-income Houston precincts, tabulated by analyst Samuel Lubell in 1956, mirrored the souring Petroleum Club mind-set: a grateful 57 percent in 1936, then a slump to 29 percent in 1940, 18 percent in 1944,7 percent in 1948, and 6 percent in 1952.

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