OPEC president sees high crude through summer

MarketWatch ^ | May 11, 2004 | Emily Church

[sarcasm]

LONDON (CBS.MW) -- OPEC President Purnomo Yusgiantoro, the Indonesian energy minister, expects high crude prices could last through the summer, due to tight U.S. gasoline stocks. "I don't like these kinds of prices. These kinds of prices will really hurt everybody," he said in an interview with the Financial Times. "But this price level is not because OPEC is playing. There is not much OPEC can do."

[Ah Beng]

There is not much OPEC can do.

Does this have an odor to it or does this have an odor to it?

[The Bandit]

Wonder why the govt. doesn't step in and build some more refineries and lease them or something?

[smiley]

I believe President Bush tried to address this very issue about building more oil refineries before 9-11 happened, but the enviromentalists and the rats went on an absolute tirade about President Bush and Big Oil....President Bush was trying very hard to relieve the harsh environmental regulations that prevent oil refineries from being built and reconstructing out-dated refineries. This problem is definitely not George Bush's fault...it's the rats and the environ-morons.