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To: gcrispin who wrote (31068)	5/29/2008 9:46:18 AM
From: E_K_S	Read Replies (3) \| Respond to of 78715

Hi gcrispin - I did not realize there were such large dollar oil subsidies provided by the governments of both China and India that continue to fuel domestic demand. Until they let their domestic oil price rise with demand, prices will probably stay at the current levels or even move higher. Despite expense, oil-producing countries keep subsidies in place iht.com From the article:..."That is bad news for oil consumers in the rest of the world, who face record crude costs partly as a result of demand growing unchecked in countries where pump prices have barely risen since mid-2006 - when crude was about $70 a barrel...." . ================================================================= I guess these countries figure it is worth using their extra (devalued) $US reserves to pay for these oil subsidies. This policy allows them to continue to grow their GDP and keep their population happy. EKS