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Originally posted by 10DeadInside10
Sep 25, 3:48 PM (ET)
WASHINGTON (AP) - President Bush, reacting to OPEC's decision to cut oil output, urged oil-producing nations Thursday not to hurt the U.S. economy, which the White House says depends on stable oil supplies and prices.
Crude oil futures surged more than $1 a barrel on Thursday after OPEC lowered its oil output ceiling by 3.5 percent, cutting the ceiling by 900,000 barrels a day to 24.5 million barrels starting in November.
"I would hope our friends in OPEC don't do things that would hurt our economy," Bush told reporters in the Cabinet Room at the conclusion of a meeting with congressional leaders on a Medicare prescription drug program.
I think the "I would hope our friends in OPEC don't do things that would hurt our economy" quote means a lot more than is seen. I think the cutback in oil output is bull#. The prices of gas are so #in high, you would think that MORE output is needed, right? Or no? Comment anyone?
Originally posted by mulberryblueshimmer
maybe this is a decision to make oil supplies last longer ....... OPEC would know if the oil reserves were really starting to run dry.
Maybe they are, so they are cutting the output to make them last longer while squeezing evert last $$ out of the consumers?
The immediate goal is to get our technology independent of terrorist oil. Our long term goal is to make it safe for our environment. I think that you make a good point about alcohol. However I think we'd have to fight tooth and nail to keep the oil companies from being able to block such a transition
Originally posted by Skadi_the_Evil_Elf
Terror money comes from oil, not drugs. Oil is evil. Oil enslaves us. With an alternative energy source (which i think we have several developed, but the technology is being suprresed by oil companies and others) we could pull out of the middle east all together. Thier wealth would dry up, and they would spiral down into oblivion unless they diversified thier holdings. Without oil, they are nothing.
Wow! For the first time, I agree with Skadi!