PRESIDENT GEORGE W. BUSH Message Board

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Politics : PRESIDENT GEORGE W. BUSH

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To: art slott who wrote (39290)	9/22/2000 5:38:05 PM
From: Neocon	Read Replies (2) of 769667

It is a worthless gambit. From the article you link: It remains unclear what impact a modest injection of government-owned oil into the market will have on prices. Some analysts have said it probably would have little more than a psychological effect as a signal from the government that it is willing to intervene American refineries use about 14 million barrels of oil a day and the country consumes 18.6 million barrels of oil products daily. The president of the Organization of Petroleum Exporting Countries said Friday that any drawdown of U.S. reserve would cause only a temporary dip in world oil prices. ``Prices will fall, but the effect will be temporary,'' Ali Rodriguez, who is Venezuela's oil minister as well as OPEC (news - web sites)'s president, said in a televised interview. Meanwhile, there is no move to abate taxes, subsidize heating oil for the poor, or take counter-measures against key players in OPEC, such as Saudi Arabia, by freezing assets......

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