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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: jim_p who wrote (39484)2/25/2005 1:43:05 AM
From: GREENLAW4-7  Read Replies (1) of 206223
 
SOR Debate; Am I missing something here? Clinton administration would always threaten OPEC w/ opening the SOR (Strategic Oil Reserve) anytime oil got toppy into the 30's area. Know we are higher todayin the SOR then anytime in history but you never ever hear any jaw bonin about opening the gates? Why?

I'll tell you why, Bush. Bush is repaying all his old pals back in TEXAS for all those political favors that got him to the governor's office and then to the White house. His policy of controlling the speculators is down right discusting. There currently is no fear in any of the traders and actually they are manipulating the media now making one believe supply is down. This is the like the 4th out of 5 inventory reports that came in either higher in builds or close to normal.

The API cannot be trusted and seems like its always their to counter a BUILD never a DRAW why? Who controls the API?

That being said, Bush's olicy of letting Crude run away which it has and letting the public believe 40+ crude is a normal will be the percipitous for what I believe will be the beginning's of the next economic slow down. It happened everytime crude went above 30 fo a sustainable period of time. Now we have 40+ as the number and if we don't get down to 40 or below within next 1-2 months I firmly believe Crude will crush our fragile economic recovery.
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