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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: Triffin who wrote (256028)	6/28/2008 7:20:03 PM
From: Sedohr Nod	Respond to of 793843

It's not coming from additional supply Only our failure to go exploring for new reserves will make that statement true. I would think the reserves found off the coast of Brazil recently would be proof of that. Though there are plenty of fundamentals that support higher oil prices, there is clearly a speculative aspect to the prices we are seeing now....I would prefer we pricked that particular bubble with something other than a world wide depression.

To: Triffin who wrote (256028)	6/28/2008 9:03:11 PM
From: Nadine Carroll	Read Replies (1) \| Respond to of 793843

Nadine .. the prices are where they are because there is no readily exploitable additional supply !!! A shame that Clinton vetoed ANWR drilling in 1995, don't you agree? If he hadn't, we would have that extra million barrels a day right NOW, and supplies would not be so tight, and we would not be paying $4 a gallon for gasoline. Sometimes past stupidies do catch up with you. There is hope however, as futures markets are not as myopic as the Democrats, and will react today to a perceived shift in supply AND demand (they both matter, another thing todays Dems find it convenient to forget) tomorrow. We've got to bring online an additional 3-4 million barrels per day per year just to offset depletion from existing fields .. The proven reserves are already there - not to mention what else we could find if we looked. BUT THE DEMOCRATS WON'T LET US DRILL.