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Strategies & Market Trends : Natural Resource Stocks

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To: snowdog who wrote (48039)	12/12/2006 12:37:08 PM
From: JimisJim	Read Replies (1) of 109015

snowdog: one really puzzling aspect of that article is the bit about the SPR... when the gov't. decided to stop adding to it before the election, it was the first pause during the entire GWB administration -- it had been buying/adding to the SPR all the way through the price runup in oil, then stops before the election when the price of oil plunges more steeply than in history... So our gov't. had been buying oil at really high prices, but stopped when the prices plunged at historic rate? In the past (pre-2000) the gov't. only bought/added oil to the SPR when the prices were below set targets... post 2000, the marching orders was to simply keep buying at any price... Just one more example of gov't. wasting our tax money, IMO. Oh, and only a cynic would entertain the notion that the markets are being manipulated even more now than in the past... but being cynical does not preclude being right... ;-) Jim

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