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Strategies & Market Trends : Commodities - The Coming Bull Market

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To: craig crawford who wrote (172)	6/9/2001 10:35:01 PM
From: craig crawford	Read Replies (1) of 1643

Saturday June 9 7:29 PM ET Bush Won't Exempt Calif. on Gas Rule By SCOTT LINDLAW, Associated Press Writer dailynews.yahoo.com ``President Bush (news - web sites)'s actions can lead to higher prices for gasoline and possible shortages in California,'' he said California officials also argued that the current requirement could raise gas pump prices as much as a nickel a gallon, once MTBE was phased out. Bush is assiduously courting Iowa, a major supplier of corn, looking ahead to the 2002 congressional elections and to his own potential re-election contest in 2004. He lost the state to Democrat Al Gore (news - web sites) by fewer than 5,000 votes last November. Farm groups and their ethanol-producing partners have lobbied intensely against the waiver, reminding administration officials that corn-producing states in the Midwest were generally behind Bush in the election. The stakes are immense for corn-producing states: An estimated 580 million gallons of ethanol a year will be needed to supply California alone under the oxygenate rule. Petroleum companies, also historical allies of Bush, a Texas oil man himself, have pushed for the waiver. They contended the oxygenate requirement has contributed to difficulties that come with making ``boutique'' fuels for different regions, adding to supply and distribution problems.

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