Comments on: Why did the Bushman go to Saudia Arabia to ask them to boost their oil production?

By: Musashi

Musashi — Sat, 07 Nov 2009 12:18:59 +0000

How long do you leave your answers open before you give best answer to your Livin In The USA screenname?
References :

By: dicimus01

dicimus01 — Sat, 07 Nov 2009 12:00:59 +0000

He was concerned that when he leaves office he might not have a large enough nest egg? If we drill of the coast of Florida there would't even be a transportation problem. Besides if we drill ANWR we would not benefit, the oil (Alaska sweet crude) goes to Asia, we only have one small refinery in the us that can refine it
References :

By: Greg

Greg — Sat, 07 Nov 2009 11:41:59 +0000

The problem isn’t supply at the moment. OPEC keeps saying it, a number of honest energy company CEOs keep saying it, a number of economists and commodity specialists are saying it.

The problem is … you cannot say with any certainty that the oil prices are not being manipulated (especially when you consider the spike is the result of commodity investment flows) when the market is opaque and not requlated anymore.

Now Congress closed the Enron loophole on March 14, but in 2006 the Bush Administration allowed unregulated foreign exchanges to trade energy commodities right here in the US, and we have no way of determining if prices are being manipulated over those exchanges (noteable ICE from London, but a new one from Dubai opens here soon).

If there are no cops on the beat, you can’t tell if crimes are happening, but chances are they are happening.

Educate yourself:
http://www.closetheenronloophole.com/

The reason the commodities market was established was to make sure supliers had an effecient market to distribute their goods. Eliminating oversight like simple audit trails opened the markets to speculation scams.
References :

By: stl_luna_7

stl_luna_7 — Sat, 07 Nov 2009 11:15:59 +0000

That would be a very good idea considering the cost of gas now.
References :

By: Fluke

Fluke — Sat, 07 Nov 2009 10:33:59 +0000

If you mean going to Saudi to boost their production FOR us then that’s what he did. To boost it for US. If you mean why is Bush going to Saudi while we’re sitting on oil in this country but allowing Al Gore and wacky friends to dictate. I have no idea.

We could supply ourselves while also saving billions that is spent on buying it. Thus using that saved money to invest in alternative fuels here. But it might hurt some caribou and polar bears.
References :

By: LeAnne

LeAnne — Sat, 07 Nov 2009 10:06:59 +0000

Because he felt that maybe the Saudi’s would be easier to convince to drill for more of their oil than trying to convince the tree hugging liberals in Congress to drill for more of our own oil.
And that’s truly a sad situation when you think about it.
References :

By: Livin in the U S A

Livin in the U S A — Sat, 07 Nov 2009 09:23:59 +0000

because the only people who like Bush
are in Saudia Arabia
that is where all his friends are
References :