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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: RetiredNow who wrote (223169)	3/9/2005 8:16:45 PM
From: tejek	Read Replies (1) \| Respond to of 1573270

Personally, I think there are two root causes to high oil prices. You mentioned one of them. The other is the slide in the value of the dollar. Since oil prices are denominated throughout the world in U.S. dollars, OPEC doesn't mind keeping prices high to offset that slide. Good point. I forgot about the slide in the dollar. As far as Bush goes, I think the oil companies have had Bush in their pockets for years. So what's good for oil is good for Bush. He just doesn't have much creativity when it comes to reducing oil consumption. I have no hope for this country in this area for the next 4 years. That's bad news if you are right. Another lesser reason for the run up in crude is because we are running out of oil reserves. No new reserves of consequence have been discovered in a long time. And now we are finding out that the size of the reserves that say the Saudis have have been exaggerated. It does not mean we will run out soon but it does look like the supply of oil is more finite than ever before. ted