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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: Kenneth E. Phillipps who wrote (123062)	1/22/2001 1:07:04 PM
From: Zoltan!	Read Replies (1) \| Respond to of 769667

Well, it certainly looks like Clinton delivered a recession. Three monthly drops in leading indicators means recession is here: January 22, 2001 -------------------------------------------------------------------------------- Drop in U.S. Leading Indicators Index Signals Continued Economic Weakness A WSJ.COM News Roundup NEW YORK -- A key gauge of economic activity fell 0.6% in December, signaling continued weakness in the U.S. economy. The Conference Board Monday that said its index of leading economic indicators fell to 108.3 last month after drops of 0.4% each in October and November. Economists surveyed by Thomson Global Markets expected the index to drop by 0.4% in December. Three consecutive declines in the index traditionally has been seen by analysts as a signal that the U.S. economy is headed into recession.... interactive.wsj.com Thank goodness Bush had his prescient tax rate cut plan to take us out of The Great Clinton/Gore Bear Market and the Clinton/Gore Recession.

To: Kenneth E. Phillipps who wrote (123062)	1/22/2001 2:14:19 PM
From: H-Man	Read Replies (1) \| Respond to of 769667

The Lewis and Clark National Forest west of Great Falls, Montana sits astride the energy-rich Overthrust Belt. The Forest Service prepared environmental reports regarding oil and gas leasing in the area, in which the Forest Service recommended environmentally sensitive leasing. At the last minute, the Forest Service concluded that no leasing would take place due to an important cultural and spiritual “value of place.” One can find dozens of these instances. At the same time it is equally important to recognize that a larger aspect of access to natural resources involves opening access to that which is not now available and halting the trend of further embargoes of western lands. Unfortunately, the Administration avoids dealing with the clear need to open federal lands to exploration and production. It hides behind an environmental sensitivity argument that is proven wrong by its own DOE report. It focuses on arguments against opening ANWR and avoids dealing with access issues offshore and in the Rockies where its own National Petroleum Council Natural Gas study concludes that over 200 trillion cubic feet of natural gas is either off limits or difficult to permit. this from the congressional testimony from the chairman of the independent oil producers association. But one of the most devastating things done was that the Clinton administration placed new regulation on royalty payments from existing oil leases. They specifcally changed rules that caused significant increases in payments and cost to producers. They disallowed transportation costs to be deducted from their income. Additionally these rules required that the oil co market the oil at no cost to the lessor. In other words cannot deduct marketing costs. All this was done at a time, when the price of oil was low. The net effect was that a lot of smaller producers just shut down these wells, since it was not profitable to run them. This marketing cost case has been litigated and found in favor or the oil companies in March 2000. The other rules were addressed in appropriations bills, but dont know current status.