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To: Parley Baer
IronJack ... Does not live in reality.

No, I live in Minnesota.

18 posted on 01/18/2009 12:44:14 PM PST by IronJack (=)
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To: IronJack

Let’s get serious here. The worst possible situation for the oil companies was $147 oil. It was WAY overpriced, so people would adjust and the kickback would be nasty (as in today’s oil prices). Also, companies got vilified along way and nearly had to deal with another “Windfall Profits” tax...and yes, they have been there with high prices and knew exactly what was coming their way as the prices went up again.

If the oil companies had the degree of control over the price, they would have never let the price shoot up. Rather they would have simply increased it something like 10% per year...they would have made plenty of money and pretty much stayed under the radar.

It’s nice to have enemies to blame, but the run-up, and now crash, is simple supply and demand. A lot has changed in the world economy over the past 6 months and the price of oil reflects it.


19 posted on 01/18/2009 12:52:16 PM PST by BobL
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