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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: Gold Beach who wrote (112171)	10/19/2008 12:22:00 PM
From: Archie Meeties	Read Replies (1) of 206223

I submit that energy prices and investments are at the mercy of larger forces than US government energy policy. For example, we have just had the most pro oil administration ever. During this time we've had both a tremendous bull run in oil prices and now a bloodletting crash. Neither really had much to do with government energy policy per se. Even if Bush had put into place policies that increased conservation, not signed the ban on offshore drilling, devoted funds towards alt. energy research, etc. we would still likely have had a bull run in energy just based on global growth/weak dollar. Biggest factors driving oil as I saw them were; weak dollar, global expansion, limited growth in supply (in that order). 2/3 of those have gone in reverse, and oil has crashed. The only thing the next administration can do is try to increase conservation, promote alternatives, open up ocs etc. Those may work locally in time, but will not have a huge impact on the price of oil. The price of oil and other commodities will continue to be at the mercy of the dollar and global growth.

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