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Politics : Formerly About Advanced Micro Devices
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To: tejek who wrote (145788)4/21/2002 10:30:11 PM
From: i-node  Read Replies (1) of 1574633
 
You don't think with oil at $37 per barrel, an unusually cold winter in the East and the economy starting to tank, that this last part of the law might have applied?

It is without question that the law did not permit use for this purpose. The law, as well as the underlying committee reports, made clear that the reserve was not to be used for mitigation of market prices. $37/bbl prices is not what was meant by " ... impact ... national economy". Of course, these guys never met a law they couldn't break, so it didn't matter.

The reality is that while the law prohibited it, the amount of oil involved was subject to the presidental prerogative as a deminimus drawdown; so that's not the issue with me. The point was that it was politically motivated, and no thinking person would suggest otherwise. Where were you, anyway? It's like you weren't paying attention or something.
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