Keith nuttle wrote:
Charles Momsen wrote:
Political theater?

http://www.guardian.co.uk/business/2...street.bailout

How many of you were duped?

Now think of global warming.

When President Bush removed the Presidential ban on offshore drilling,
the price of oil dropped from over 140/br to about 100/br., the question
was not about how much physical oil was available but how much oil could
be available. It is the same with Wall Street. What is important is
that the US Gvernment says it will support the markets, with the
knowledge that the support is there the market will respond positively.
The market will probably not move up 1000 points tomarrow but it will
respond.

By the way since congress has said it is not renewing the offshore
drilling ban oli has fallen further. Today I paid 3.22/gal In July
before President Bushes actions it was approaching 4.30/gal. It should
drop to about 2.70/gal. based on its highs.
It should be pointed out the price drop started July 15th, the day after
President Bush rescinded bill clinton's ban on offshore drill. I
guess the summer ended early this year.