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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: Dale Baker who wrote (67023)	5/20/2008 12:14:43 PM
From: NAG1	Respond to of 543684

Dale, <<But the spot price of oil is way, way beyond the ability of any US president or even a western political coalition to bring down in the conceivable future short of throwing all our economies into nasty recessions by raising interest rates.>> If you are correct, then I would feel that nothing is really going to work. We should still talk with them and try whatever is possible but what could we offer them that would induce them to not only listen but act on what we talk to them about? My gut tells me that the president could get the price of oil down if he tried. If the president(and congress) really acted on his/their words about weaning us off ME oil and was perceived by the rest of the world as being serious about it, I would bet suppliers would be pumping as much as they could(and probably add capacity) to try to catch as much as the present wave in oil prices as possible. The speculation built into the present price of oil would also be taken out of the equation. The sad part of all this is that I think about how our present economic situation would have been different if we had spent the money we have spent in Iraq and put it towards infrastructure, education and energy research and development/independence. Neal