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Politics : Formerly About Advanced Micro Devices
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To: Tenchusatsu who wrote (285560)4/28/2006 2:56:07 AM
From: tejek  Read Replies (1) of 1573988
 
Ted, Instead, the shortage of gas is due to a shortage of ethanol needed to make the gas blend now required by new federal legislation, complicated by refinery shutdowns for their annual maintenance. Inventories of oil have not been this high in quite some time. Not putting some in the SPR will only contribute to those inventories, not to solving the problem.

So the high price of oil is somewhat manipulated and not due to any real supply shortage?

No more than computer chips are and maybe even less. The problem is that there is a price contango in oil. When you really want to know the truth, then I will post an article that explains how the contango works.

To me, that is good news, since at least we can fix those problems. Even if the solution is (gasp!) ABB.

Bush is definitely part of the problem..........after all, he was the one who coined the term, Axis of Evil, and got the entire world stirred up. So we have Iraq's oil contorted and out of the market, Iran's oil is problematical and Venezuela also contributes the contango. Three important suppliers of oil were stirred up by Bush and remain unreliable. Hence, Americans [and the world] are paying the price for his hubris and mendacity. Think about it when you gas up your car. I did when my bill rang in at $50 yesterday.
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