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Gold/Mining/Energy : PEAK OIL - The New Y2K or The Beginning of the Real End? -- Ignore unavailable to you. Want to Upgrade?

To: Jurgis Bekepuris who wrote (407)	4/22/2005 2:27:01 PM
From: Raymond Duray	Read Replies (3) \| Respond to of 1183

Re: >>>Democrats have urged Bush, as an alternative, to open the Strategic Petroleum Reserve... <<< I have heard this suggestion more than once and it is so laughable that it gives bad name to Democrats. Jurgis, You might wish to review history. In mid-2000 speculators had driven the price of crude oil to about a 20% premium over the price that would have been normal based upon the actual supply/demand situation. Bill Clinton sold a small quantity of SPR crude into the market and broke the back of the speculators. It was hilarious to watch them scream bloody murder about how awful this was. And my point is? One man's "laughable" is another man's laudable. Bush could end the fleecing of the consumer in a nanosecond if he so desired. But as the intelligent observers of the world clearly see, Bush is happier with obscene profits for a handful of oil executives than he is concerned about the dimmed-down American consumer putting two and two together. I can just about guarantee that gasoline prices will miraculously drop in September/October 2006. Due to "market conditions", wink, wink, nod, nod.