Oil Profits and Arms Purchases

An article at the TimesOnline links profits received due to the high oil prices to purchases of military goods. The month of July showed sales of $12.9 billion from the US to foreign governments – the largest single month during the Bush Administration. Besides being tied to the support for the US government’s foreign policy aims and other factors it is also related to oil profits.

"Other factors behind the leap in arms sales include the rising price of oil, which has given oil-producing nations more money to spend."