I was in Geneva last week and it was in full throttle tourist mode. All of the lakefront hotels were booked solid by the Saudi princes and their entourages.
Here is a picture in front of the Kempinski Hotel with “his and hers” Rolls Royce. Behind the Rolls is a Bentley convertible. Note that all of the cars still have their Saudi plates on them. These are not mere rentals, but rather, the cars are shipped in on the Saudis private jet(s). Geneva must have special arrangements for them.
Here is another picture in front of the Woodrow Wilson Hotel. This one is of a Ferrari and a Lamborghini.
Our $5 per gallon gasoline is fueling one of the biggest transfers of wealth in the history of the world. This rising bill for imported petroleum lowers our already anemic savings rates, adds to inflation, worsens the trade deficit, and undermines the dollar.
Wake up George Bush…. it is time to have a comprehensive energy policy!
Sorry! He is not home. He is in Beijing.