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Technology Stocks : Semi Equipment Analysis -- Ignore unavailable to you. Want to Upgrade?

To: michael97123 who wrote (15298)	5/21/2004 10:25:15 AM
From: The Ox	Read Replies (3) \| Respond to of 95616

Hi michael, There are a lot of things the President can do to encourage conservation and a strongly worded speech could do little harm. I just don't believe that this administration wants to see oil prices lower, regardless of what is said in public. The actions that have been taken speak much louder then words and by continuing to buy oil for SPR while prices are at all time highs makes me feel justified in my view. Most intelligent people will curb their spending when there is a temporary price rise in a given commodity. In the same way that you are consolidating your travel to conserve, our government should reduce or eliminate their purchases to the SPR while prices are high. It's plain ol' common sense. Instead, we have the exact opposite response from the White House. Like you, I can afford the higher prices but I'm not happy with paying them, since I strongly believe that the current prices are artificially high. The President said he was not going to play politics with the SPR but his actions refute his statement. Buying artificially high priced crude oil for the SPR is playing politics. This administration has no desire to see oil go lower, plain and simple. I think this is a huge mistake, both fundamentally and politically. As for drilling in Anwar, I strongly believe we should be doing it and we should develop as many domestic sources of oil and NG as we can. We have the technology to access these energy fields and not destroy the surrounding environment, regardless of what the opposition says. We have a culture of NIMBY - not in my back yard. I think that some sacrifices must be made for the good of the entire nation and drilling in Anwar, if done correctly, would be a very, very small price to pay for a major source of energy. I believe the current plan calls for less then 1/100th of 1% of Anwar's acreage to be used for drilling, storage and a pipe line. This seems like a small price for the potential return. jmo mh