Because, quite simply, Dick 'Deficits Don't matter' Cheney told OPEC he intended to rip them off in the bond market. So OPEC raised oil prices over the period to avoid getting ripped off by the VP of the USA. The US government in DC habitually commits fraud, but our trading partners are well aware of the problem.
Which brings us back to Galbraith, who wants to cheat OPEC for 50 years to wipe out our debt!
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