>Fascinating how oil prices haven't fallen along with Saddam's statue.
>Some warriors had claimed that cheaper oil would more than pay for
>the war, but it hasn't worked out that way. Gas did fall from $1.73 a
>gallon in March to $1.53 in June, but it's back up to $1.58 now - 14
>cents higher than a year ago and 35 cents higher than Dec 2001.
>
>Doug
Hmmm.
This, from an ejected listmember:
> From the hardcopy FT 080903:
>
> OIL PRICE RISE FIRES DEBATE AMONG ANALYSTS
>
> "US efforts to boost its strategic oil reserves have contributed to the
> recent surge in world oil prices and risks aggravating the drag on the
> fragile global economic recovery, according to some analysts and critics of
> the Bush administration.
>
> In addition, Washington, which faces a growing budget deficit, foregoes
> millions of dollars in royalty payments by filling the reserves while the
> price of oil is so hight. The government allows oil companies to make
> shipments to the reserves in lieu of paying royalties for extracting oil and
> gas on US territory....
>
> Many analysts disagree, saying the lack of exports from Iraq has been a
>far more significant factor in driving up prices in recent months.
>
> The US Energy Department disagrees, too....
>
> The US now depends on foreign suppliers for about half of its oil [actually
> about 55% with Canada, Mexico, Venezuela and Saudi Arabia being the top 4
> suppliers] and, with unusually low levels of commercially stored oil, it is
> finding itself vulnerable to price rises."
Jenny Brown