"P. Fritz" wrote in message
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"Tim" wrote in message
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Jun 24, 7:57 am show options

Newsgroups: rec.boats
From: - Find messages by this author
Date: 24 Jun 2005 04:57:44 -0700
Local: Fri,Jun 24 2005 7:57 am
Subject: Oil reaches record $60 a barrel
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*JimH* wrote:
wrote in message
oups.com...
That's:

Bad for Bush
Bad for the US
Bad for boating. :-(


I agree.


And what exactly did Bush have to do with this?



Here you go Jim:
Don't Blame OPEC; Higher Gas Prices Are Almost Entirely Bush's Fault
Dave Lindorff, ILCA Associate Member

What is making oil so expensive is not energy policy or even SUV's,
dangerous as those are for the environment. It's Bush's massive
deficits and his willful destruction of the US dollar that has gas
selling at $2.30 a gallon and rising.


There's been a lot of hand-wringing going on among economists and
politicians, and a lot of fuming at the gas pump by consumers over the
soaring price of oil over the last two years.


Increasingly, concern is being expressed by treasury officials and
economists about the negative impact soaring oil prices and related gas

prices could have on the overall economy. Politicians--especially
Republicans--are also fretting, since the thousands of extra dollars
consumers are now spending on electricity, home heating and gasoline
have, for all but the wealthiest taxpayers, more than cancelled out any

minimal benefits they saw from the president's tax cuts.


What's wrong with this picture?


The focus of all this anger and angst is oil prices. As a result,
everyone is looking at culprits in the wrong place, blaming wasteful
energy use, OPEC production quotas, monopolistic oil companies and/or
conniving oil traders.


In fact the real culprit behind these higher oil prices is the Bush
Administration, which, thanks to its massive deficits and tax
give-aways to the rich and corporations, to its war spending, and to
its failure to combat unprecedented and ever-larger trade deficits, has

been causing the dollar to plunge in value.


Oil is a commodity and it is priced in dollars. If dollars decline in
value, then the price of oil will rise in inverse proportion.




Man, this gets old.

did you ever consider supply and demand? or would that get in your way.

Like T. Boone Pickens (oil tycoon) said: : When you need 36 mil.
Barrel of crude to run a country, and can only get 34 Mil barrel, what
does that do to pricing?

I know, I know. That doesn't fit any kind of political logic. because
it is one of a few circumstances of reasoning. I know, know...it's so
much easier (and to some its much more fun) to bash Bush........ that
little meanie.....LOL

And if it is the declining value of the dollar.....why have gas prices
risen when the dollar has gained in the last view weeks.........damn facts
always get in the way of the liebrals.


Sheesh. I haven't been following this thread, but is someone stupid enough
to suggest that a weak dollar is responsible for high oil prices...rather
than increased demand (from countries like China), and instability in the
oil producing countries?