Posted on 03/20/2005 5:09:02 PM PST by West Coast Conservative
**Exclusive**
President Bush's inner circle has become preoccupied with soaring gas prices and its toll on the economy, a well-placed White House source said over the weekend.
Bush has quitely asked for a review of any and all economic fallout on the nation if gas prices continuing racing up and over the psychological line of $3 a gallon, as they have in recent weeks in some locations, the source explains.
Bush's top economic advisers have conveyed to the president that a "nightmare" scenario of $4 a gallon is extremely unlikely in the short term.
"The seasonal run-up of gas prices has been tough this year, but like every year in the past two decades, we expect we will will see some easing," the source claims from Washington.
Developing...
I think you mean "quietly", Matt.
Nice to meet you at CPAC.
By congressional legislation, yank jurisdiction from the courts of all claims challenging the construction of oil and gas refineries based on environmental grounds. By additional legislation, abolish all restrictions on offshore drilling imposed by the states.
Anyone that doesn't KNOW that oil is being used as a weapon against us is living an illustion. Maybe when it reaches 5.00 a gallon people will stop listening to the idiot enviros.
Where the hell is the Iraqi oil, and why aren't they pumping it out of the ground like there's no tomorrow? By the way, did I read that Iraq is still a member of OPEC? Who allowed this?
I'm a little scared we don't have contingency plans in place for this kind of event. Good thing I have a bible as I have no faith in the federal government.
That bible and $2.19/gal will fill your tank in central PA tonight...
Sunday night moonbat stuff from Drudge...It may or may not be true.
If you have ever done any work with or for the Federal Government, you will know that it is the most incompetent organization in existence.
When people started preventing oil exploration in the U.S. and went along with the enviros, this was bound to happen. The Islamofascist control us by our dependence on their oil. Thank You Dumocrats.
open the strategic reserve and sell the oil to US refiners at $42 per barrel. then sign a contract with the new iraqi government to replace it at $40 per barrel, the $2 being "war reparations". instantly, the speculative bubble in the oil price induced by the hedge funds will break, their positions will be taken out, and the price of oil will return to a level set by suppliers and consumers who actually produce/consume the product.
right now, the brokerage houses and hedge funds are using oil as the new "tech stocks" - that must be broken, or they will kill us all. its probably adding $10-12 a barrel right now, and will only go higher as money chases money.
More drilling here as well as tax incentives for companies that develop fuel cell technology and other forms power.
In the midwest their is plenty of wind power we could use!
Unfortunantely the Saudis and have been spending millions of oil soaked dollars to block all this.
The way things are going, I can see us approaching $3 by the end of the year.
Oh, it must be Sunday night.
Iraq is producing basically at capacity. The problem is their infrastructure is in far worse shape than anyone thought, and is pretty much having to be rebuilt. It will take a while to increase production.
The pipes and other structural parts are in disrepair and security against bombings is lousy. We haven't done a good job at all of getting their oil industry working as well as it could.
The annual natural event of the pre-summer driving season "refinery fire" should take it to $4.00 this year.
Professional Saudi and Iranian saboteurs selectively blowing Iraqi pipelines - a profit-maximizing strategy since they are competitors in the same market.
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