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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: Skywatcher who wrote (33167)	9/16/2000 7:35:51 PM
From: Jeff Jordan	Read Replies (1) \| Respond to of 50167

Oil Soars $1.85 To $35.85 To Another 10-Year High The gain put the October contract at $35.85 a barrel, matching the November 1990 high. Players were dismayed by indications that the U.S. won’t tap supplies from the Strategic Petroleum Reserve. Renewed tension between Iraq and Kuwait revived fears of Persian Gulf shipping disruptions. Bad weather over Mexico may force oil platforms in the Gulf of Mexico to close. Heating oil and gasoline prices notched big gains. >>>Players were dismayed by indications that the U.S. won’t tap supplies from the Strategic Petroleum Reserve. <<< ??? I for one would be very dismayed if our government selected to use any of our $10-$15 strategic reserve...I think it would be extremely foolish! I'd like to see a reduction in gasoline taxes! The reserve wouldn't do a damn thing except threaten our future if the need truly became necessary. Oil will come down....Refineries are probably producing at capacity and then transportation of crude supplies is also probably another stumbling block. I don't live in Tulsa or Dallas anymore so I don't hear much talk anymore....but I have my doubts about real shortages here in the US. I do know there is a shortage of oil field workers in the US.