On Fri, Nov 09, 2001 at 11:29:41AM -0500, Robert Haeckl wrote:
> Jim Wildman wrote:
> >
> > I'll guess that the refineries have also completed their switchover to
> > heating oil and that more production is on line.
> >
> > ------------------------------------------------------------------------
> > Jim Wildman jim@rossberry.com
> > 903-736-4393
> >
>
> George Bush made an appeal last night to encourage domestic production
> of oil to decrease the dependency on foreign oil. With the 30% drop in
> gas prices, it seems to me that foreign sources are more dependent on us
> to buy. Increasing domestic production might decrease dependency, but I
> doubt that this will translate into relatively cheap energy costs.
> Supply might remain steady, but I doubt prices will.
>
> -Robert
We probably use more oil than anyone else in the world, so OPEC doesn't
really want to lose us as a customer. OTOH, when you have the trillions
they do, I can't see why they'd care. They could all go live in Bolivia
forever and never have to pump another gallon. But regardless of
pricing, it's never a good idea to be dependent on foreign countries
when you can get the same goods at home. Particularly when most of those
countries are as volatile and contentious as the Arab states.
Paul
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