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

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To: ChanceIs who wrote (151430)	5/18/2011 11:51:34 PM
From: ChanceIs	7 Recommendations Read Replies (3) of 206085

Digesting OPEC by the numbers ....... A look in the lower right hand corner of the linked graphic shows that at $71/bbl, the US purchases $348 MM per day from OPEC alone. So lets do some math. Roughly over a year, that equates to $100 billion. How much did Congress think it could cut from the budget before the economy would collapse? Was it $30 billion??? Lets say it was. SO let's get real. Crude rose from $71 to $110 - more or less. It hasn't stayed there of course. But that would come to an ADDITIONAL 4/7 (56%) of $100 billion or $56 billion. How does that $56 billion compare to the $30 billion Congress couldn't cut. Now let's get really nasty. That first $100 billion was from OPEC only. The total imports come to $240 billion annually. Raise that by 56% to get an additional $134 billion paid to foreign countries to push our cars down the road. How does $134 billion compare to that $30 billion Congress said we could not cut w/o destroying western civilization? Conclusions: 1) Congress doesn't get it. 2) Find a way to protect yourself.

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