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Politics : PRESIDENT GEORGE W. BUSH
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To: Patricia Trinchero who wrote (146655)5/20/2001 8:39:55 PM
From: Peter O'Brien  Read Replies (1) of 769670
 
Pat, please look at this annotated oil price chart since 1970.

eia.doe.gov

Please look at point #57 on the chart:
"Oil prices continue to plummet as increased production from Iraq
coincides with no growth in Asian oil demand due to the
Asian economic crisis and increases in world oil inventories
following two unusually warm winters."

It seems to me that Gray Davis was taking advantage of
the situation back then (Asian economic crisis, and unusually
warm winters) to "gouge" the energy companies.
Back then, were you in favor of the federal government stepping
in and insisting that Gray Davis pay an artificial minimum "fair" price
to the energy companies instead of "gouging" them at the
abnormally low and "unfair" spot price?
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