Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Rick Slemmer who wrote (298528)	9/19/2002 8:59:27 PM
From: Steve Dietrich	Read Replies (1) \| Respond to of 769670

<<Seems simple enough to me.>> Then why not address the fact that so many oil companies (like Haliburton and Carlyle) make lots of their money in Arab countries? And why not address the high oil prices lead to conservation and alternative energy paradox? You just keep repeating that reduced supply would increase price. Well we agree on that. Furthermore a U.S. imposed embargo on Arab oil would shoot oil prices to something like $40 a barrel and lead to an economic disaster here at home where the economy is still very weak. Whose interest exactly would that serve? Bush's? Carlyle's? Do you still stand by your statement that Bush has demonstrated his independence from oil interests by not cutting off foreign imports from some Arab countries? Do you honestly offer that as a legitimate and compelling argument? Steve

To: Rick Slemmer who wrote (298528)	9/19/2002 11:50:09 PM
From: Raymond Duray	Respond to of 769670

Hi Rick, Re: Seems simple enough to me. If the oil companies control 100% of the domestic product Like the economist who assumes away a lot of reality for the sake of argument, you seem to be discounting the reality of "strippers". Not a hugely significant factor in the market, but certainly proof that oil majors do not control 100% of domestic production. Nor is it an insignificant matter that OPEC provides less foreign oil to the U.S. than do non-OPEC producers. Re: Doesn't less product and static or rising demand drive the price up? The market for crude oil is highly prone to hysteria. Over the course of history since the 1920's, a 1% imbalance in supply/demand has generally resulted in a 50% move in price. It's a radically irrational response. But it is historically verifiable. Re: Open question to to the forum present: Do you agree with Steve that my assertion is so silly and so poorly reasoned as to tempt presumption that I'm not serious? You may be serious, but you are also seriously ill-informed. The oil majors, formerly the Seven Sisters are not very much part of the domestic production scene, other than at Prudhoe and the GOM. The domestic dry land E&P market is dominated by oil juniors (similar to various failed Bush family schemes like Arbusto, Spectrum, Zapata and Harken in various configurations) and not by the majors that George Bush works for today.