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Politics : Ask Michael Burke
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To: Tommaso who wrote (78629)3/26/2000 6:54:00 PM
From: Don Lloyd  Read Replies (1) of 132070
 
Tommaso -

[[...On the brighter side, a lot of US Senators, both Republican and Democratic, are saying a lot of sensible things about our developing new energy crisis...]]

For instance?

There is NO new energy crisis except what is caused by politicians and eco-terrorists. Oil prices are still historically low in real terms. Environmentalists are long on the record as wanting much higher gas prices and taxes are at least among the largest contributors to current prices, along with regulations that utterly hobble investments in new supply. Remember, there is no inflation because substitutions can be made. Unless they can't be made because of government intervention destroying the risk/reward of alternate investments, or because of railroads being an over-regulated and union-infested industry.

In any case, in the unlikely event that the oil cartel holds together for any significant period, the result will simply be a more effective addition to the FED's pathetic attempts to tighten.

Regards, Don
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