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

To: DuckTapeSunroof who wrote (566754)	4/19/2004 8:51:30 PM
From: tejek	Read Replies (1) \| Respond to of 769670

Wouldn't that be an illegal attempt to influence our elections, ie, a foreign cartel --- who's interests are not congruent with the American nations --- attempting to artificially (& temporarily!!!!!!) force down a controlled price to win an election? Presumably right after the election they could return to gouging us.... Yes it is illegal. However, even if it weren't, I don't think it means a lot in the long run. First, the Saudis recently maxed out their oil production, meaning their oil reserves are finite. They are not as anxious to see oil drop below $30 per barrel as they were when production was increasing. Secondly, the Saudis ability to control the world's oil production has been mediocre at best. Their control over OPEC nations is weak. And each year non OPEC nations increase their level of production, making OPEC less and less effective as a cartel. Thirdly, the price of crude isn't about to come down so long as the world is in turmoil and terrorists can blow up an Iraqi oil pipe or a Kuwaiti refinery at a moment's notice. Frankly, I think the Saudi's promise is an empty one and was intended to keep them on Bush's good side.