Re: oil bubble
- I don't doubt that the Bush administration would attempt this BUT see
"John Felmy, chief economist at the American Petroleum Institute,
agreed. The amount of oil going into the reserve amounts to less than
two-tenths of 1 percent of the world supply, or 'maybe a couple of
cents a gallon,' he said.
A change of policy could lower prices three to five cents, said Mark
A. Baxter, director of the Maguire Energy Institute at Southern
Methodist University's Cox School of Business. But, he added, 'that's
not the kind of impact consumers are looking for right now.'"
For those who are really interested in petroleum supply and price
issues, the comments at
<http://econlog.econlib.org/archives/000470.html> could be worth reading.
--- In firstname.lastname@example.org, Steve Geller <stgeller@c...> wrote:
> Some of us eco-whackos out here in Berkeley think that
> US gas prices have been going up because the Feds have been feeding
> the Strategic Oil Reserve. We're betting that some of this oil will
> be "withdrawn" just in time to give the economy
> an "October surprise" for the election. Is this a good bet?