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You seem to be contradicting yourself here. You point out that market speculation and a devalued dollar are determining the price of oil. The Saudis rejected Bush's request because the market had a surplus and more supply was not needed. Perhaps this effort by Bush was to make us 'feel' better and he could argue against his critics who point out that he is doing nothing.
I hope that our own Congress can cut through this BS like the Saudis did, granting more leases for drilling when oil companies are sitting on 1000s of leases already will not do a thing to lower the price of gas, strengthening our economy and currency to the level of 2000 will bring the price of oil down significantly. Reeling in the market speculators will bring it down even more. I hope that we don't lose the urgency to work towards energy independence if this happens. posted 07/22/2008 at 10:11:27