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We Are All Spaniards



 
 
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  #22  
Old April 18th 04, 02:24 AM
G.R. Patterson III
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Martin Hotze wrote:

However, if you disrupt the Middle East oil production, you raise the
global price of the stuff.


true.
or try to use less ( -- less demand -- lower price )


If you're trying to reduce dependency on foreign oil, that tactic really doesn't work
well here. The EPA regulations have shut down many of the domestic wells that used to
produce. The general idea behind the regulations is that a well that doesn't produce
for some period of time must be capped. The capping method prescribed is rather
permanent. Once capped, the price of oil would have to triple to make it economical
to re-drill the well.

One of the results is that, every time OPEC drops prices and maintains that lower
price for more than a year, a few more marginal producers go out of business in this
country. Permanently. If you reduce demand and OPEC does, in fact, react by cutting
prices, you will actually *increase" dependency on foreign oil.

George Patterson
This marriage is off to a shaky start. The groom just asked the band to
play "Your cheatin' heart", and the bride just requested "Don't come home
a'drinkin' with lovin' on your mind".
 




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