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Gold/Mining/Energy : Gold Price Monitor
GDXJ 98.59-2.8%Nov 13 4:00 PM EST
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To: LLCF who wrote (52608)5/12/2000 9:13:00 AM
From: Hawkmoon  Read Replies (1) of 116759
 
ha ha... amazing isn't it, didn't work with Iraq yet the same old paradigm continues.

This theory was reported the other day on Drudge's site. An Egyptian reporter claimed that he had evidence that the White House helped to coordinate higher prices for oil so that Persian Gulf nations could afford to spend $30-50 billion on US weapons. And that was one of the reasons why the SPR was not tapped to counter the monopolist price manipulations of OPEC nations.

I don't have any proof, but I can easily see the merit in the theory. Unfortunately, I can see the short term merit for the White House to engage in such a policy, although it will harm us long-term.

The Arabs will seek their weapons from someone. If not the US, then China or Russia. Having a strategic nation using your particular weapons systems (and thus reliant upon your logistics and spare parts for keep them functional) closely ties their security to yours. And thus, I guess it would be better than the Arab oil producers are in our camp than someone elses.

And maybe that same inter-dependence will provide the leverage the US requires to prevent OPEC from trying to squeeze the world even more by failing to keep pace with energy usage.

The oil is there, it is just not being produced or developed. And as I have stated, I think being dependent on foreign oil is a national security issue that reduces our ability to pick and choose our fights.

Regards,

Ron
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