Bush and the economy – a way to solve the problem

Bush, yesterday announced we aren’t heading for a recession, we are in an economic slowdown. This announcement defies the belief of most economists, who are careful to say they haven’t proved we are in a recession but believe we “could” be or “probably” are. It gives one cause to wonder if he thinks his just saying it will make us all feel better that Uncle Sam is looking out for us, and we can go into our homes where the heat is turned down to save money on gas bills, and we’re wrapped in blankets to stay warm.

Good thing the White House isn’t in Minnesota. I can’t imagine how much it would cost to heat that place.

He also hadn’t heard gas was possibly going to go up to $4.00 a gallon. Maybe he should be forced to pay his own fill ups at the pump instead of doing it on our dime. He might keep a little in touch with the rest of us.

Ironically, Bush and Exxon Mobile’s mortal enemy Hugo Chavez predicted last year when gas hit $60 a barrel that it would soon hit $100 a barrel. Wonder how he knew, or could it be it was his experience working with our oil companies who were keeping over 60% of the profits from his oil before he made them redo the contracts. Every oil company agreed to the new contract terms (Venezuela gets 60% they get 40%) except Exxon Mobile who sued instead. Surprise, surprise.

Here’s how you fix the problem with high gas prices – take it off the stock market.

That’s the ONLY reason the price is so high. Our supply is the highest it’s been in 14 years. There’s no reason for the prices to be this high.

Oil didn’t trade on the stock market until 1984. I’ll let you figure out who was president then, and since. Before that, the only time we had high gas prices was during the oil embargo. Supply went down, prices went up. Now, it has nothing to do with supply and demand, just speculators and greed.

In fact, by trading oil on the stock market, it is in the oil companies’ bets interests to ensure something, somewhere, effects the oil supply. As soon as there is a blip on the supply screen, anywhere, they make more money.

Remember the beginning of the Iraq war? Every time an Iraqi pipeline got bombed, the oil prices went up. WE HAVEN’T GOTTEN OIL FROM IRAQ FOR DECADES!!

No, off the stock market. If the only way the oil companies could turn a profit was to provide us with a steady, uninterrupted, dependable stream of oil, they would have incentive to maintain their pipelines, ensure their refineries didn’t have fires of strange origin, and they would probably stop drilling in hurricane prone areas because even THEY wouldn’t be able to depend on that oil source.

They might even voluntarily invest in alternative fuels. But why do it now. If we keep demanding oil and they keep sitting on a dwindling supply, they just make more money because the price goes up the less there is.

Wake up America. The only ones who benefit from oil trading on the stock market are the people who can afford to play the stock market. And that isn’t us.

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