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Politics : Foreign Affairs Discussion Group

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To: geode00 who wrote (192008)	7/18/2006 6:44:37 PM
From: Hawkmoon	Read Replies (1) of 281500

I'm pretty sure that depression level unemployment is an economic problem. This is a not fully employed people having angel-pin issues. There are some 20 million Saudis. On top of this, they have over 5 million foreign workers. That's one quarter of the population, now isn't it? And considering that some 10 million of those Saudis are under 21 years of age, they probably aren't looking for jobs. So NOW.. you were saying something about "depression level unemployment"?? I think Venezuela was just an unintended consequence though LOL. The price of oil strengthens dictatorships, megacorporations and puts a huge tax on everyone else. If Iraq wasn't enough to get the price above $100 just throw in Iran with Israel and Hezbollah providing the spark. Wait!!! So you're saying that Chavez is a Dictator now?? Don't let Sly here you say that!!! He'll start calling YOU a Fascist.. LOL!!! T. Boone Pickens has invested some $700m into Alberta and is predicting $4.50/gallon gas. He was apparently right with his $3 prediction some time ago and, of course, he does have a big horse in this race. And wow!!! What kinds of alternative sources of energy, including fossil fuel deposits not previous considered "economically viable" not become available at that price? Hell, we could probably even make synthetic fuel from coal for less than that!! And all of this is transpiring WHILE US oil inventories are at record levels not seen since 1998 and available space to store more at a real premium!! Bottom line, there's about $20-30 worth of speculation priced into oil right now. All Bush has to do is say that the price of oil has reached levels that threaten our economic growth and command that the Strategic Petroleum Reserve be tapped to bring down speculative price-gouging driven by the Futures market (not necessarily oil companies who normally buy these contracts from producers.).. Hawk

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