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Politics : Foreign Affairs Discussion Group -- Ignore unavailable to you. Want to Upgrade?

To: jttmab who wrote (188684)	6/7/2006 1:41:17 PM
From: Hawkmoon	Read Replies (1) \| Respond to of 281500

does Exxon-Mobil buy the crude from the SRP at current market prices? Does the SRP discount it? I would assume at market prices, or as a loan of physical oil that the recipient is obligated to replace at some point in the future. If we bought crude for the SPR at one market price and sold it a different market price, how is that accounted for? How about assessing a "windfall profit" tax on the proceeds and have it directly refunded to the American taxpayer?? Btw.. since you brought up the point, what happens with the Social Security Trust Fund takes in more money from FICA taxes than it distributes to current recipients?? Hmmm.... OPEC may be a cartel, but it's not a monopoly. If any other industry colluded to set prices for their commodities, it would cause a political outrage. But in this case, we're talking about governments, mostly authoritarian, or pseudo-democratic, who are involved in it. What if France, Brazil, Canada, and Europe all collude to set prices on commercial jets so that there is always less supply than there is demand?? Hawk