Current Events — HabitableZone

Current Events » in reply to Big news flash: Senate kills ANWR drilling.

They want the price of oil up so they can beat Bush over the head with the issue

But that's a dangerous game to play... There are many more factors influencing the price of oil than just drilling in ANWR.

Bush could insist that the Russians invest any US foreign aid funds in development of new oil reserves... Or better yet... This Bush could get involved in a Quid Quo Pro that will flood the market with oil in the months leading up to the election.

The natural tendancy for oil prices is down. There is no real shortage of oil in the world. And there are too many alternatives available. As a result, OPEC can only influence the prices in the short term: But those prices could sting you in the short term on either the up or downside.

Scott

(Maybe my Economic analysis is biased by wishfull thinking, but I've never seen any evidence to the contrary)

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