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

To: Bald Eagle who wrote (545569)	2/26/2004 10:20:03 AM
From: JakeStraw	Respond to of 769669

BE, But I thought Bush had his hands in the oil industry... I mean hasn't everything he's done been about oil? ;^)

To: Bald Eagle who wrote (545569)	2/26/2004 11:14:35 AM
From: cnyndwllr	Read Replies (1) \| Respond to of 769669

Bald Eagle, "jobs" lost in the oil and gas industry doesn't necessarily translate into a conclusion that Bush didn't favor the oil interests. As you know from your investing, the oil business is a strange one. Opec and the big oil people like to LIMIT production, RAISE prices and LOWER COSTS. In the good old days we called that monopolizing, or more properly, oligopolizing. That usually means that they want LESS production as a group. It's the small interests that want a share of the pie and who try to break into the supply side of the issue. The others like to play ball and keep supply at a level that maximizes their profits and thus gives the most profit return for the limited supply of oil left. That means depressing employment and production on occasion, and, of course, working Washington for those tax breaks.