This is not all about the "demand" of China and India.

And it's not entirely about the falling value of the dollar either.

Bush has the power to push back against speculators, but won't. The
lowering of interest rates is absolutely ZERO solution to this problem!
At least Bush has not bitten on the gas tax moratorium nonsense.

But we're all headed into a depression, according to this article:

http://www.slate.com/id/2190516/

===========

Oil passes $122 on $200 oil prediction, supply concerns
Tuesday May 6, 11:41 am ET
By John Wilen, AP Business Writer
Oil prices rise to record over $122 a barrel on prediction of $200 oil,
supply concerns

NEW YORK (AP) -- Oil futures blasted to a new record over $122 a barrel
Tuesday, gaining momentum as investors bought on a forecast of much higher
prices and on any news hinting at supply shortages. Retail gas prices
edged lower, but appear poised to rise to new records of their own in
coming weeks.

"Winston Smith, American Patriot" Oceania.WhiteHouse.GOV> wrote
in message news:Xns9A965DAC46A08WSAP2006@207.115.17.102...

Yeah its about Rats blocking new oil drilling to increase supply.

ANWR is the largest single untapped source of American oil. The US
Geological Survey estimates that it contains 5.7 to16 billion barrels of
recoverable crude oil. Assuming the middle of this range, ANWR could provide
nearly a million barrels per day, every day it is in operation, for several
decades
On the other hand, had President Clinton not vetoed an ANWR proposal in
1995, we would have that oil today.
http://www.heritage.org/Research/EnergyandEnvironment/wm692.cfm

"Mike Hunt" nospamcomcast.net> wrote in alt.politics.bush:

Mike Hunt wrote:

Poor fool... any oil that comes out of ANWR will be shipped directly to
China and the proceeds will go into the pockets of people you don't even
like and you will *still* be paying 4 bucks a gallon at the pump.

Poor deluded fool...

"Winston Smith, American Patriot" Oceania.WhiteHouse.GOV> wrote
in message news:Xns9A965DAC46A08WSAP2006@207.115.17.102...

why do you think it is only One thing?

Thing of it is:

It isn't going to be all of OUR future...

The whole point of this administration is the elimination of the
American lower class -- as in starve them, kill them, run them off, do
whatever...

Just be rid of them.

$200 a barrel oil will probably mean at least $8-9/gallon for gas.
People won't be able to go to work, for all the good "work" is really
going to be at that point.

$200/barrel would be double the price just at the beginning of this
year -- and, worse, that $100/barrel about Jan. 1 was almost four
times what the price was when Bush took office.

Fact is, he's going to starve out the poor, because only the
elimination of the poor through social engineering and economic
Darwinism (if not direct shooting of us, which is the next step once
the inevitable unrest starts...) will ever bring the federal budget to
any degree of balance without prohibitive tax increases on the richest
one percent.

Mike

Oh, and what was on that like that my virusware found??

A _TROJAN_!!!

Mike

starcade@yahoo.com wrote:

At the current price, it's $3.75 - $4.00 a gallon for gas. So at $200,
it's more likely to be $6 - $8 a gallon.

Really? People in Europe pay $8 a gallon (equivalent). The cars
haven't disappeared from the roads. People just drive much more
fuel-efficient cars in general there - and in many other places.

Americans are in denial and complacent. The wake-up call came
more than 35 years ago, and it was subsequently ignored. Stupid
stop-gap measures like "lets drill ANWR!!11!1!!!" are just drum-
beating and hollering that attempts to mask the true nature of
the problem.

The problem: 5%% of the world's people still think they're entitled
to consume 25%% of the world's daily output of petroleum, even though
they produce only 10%% of that output, and production is declining.

Mike Hunt wrote:

The 'R' in ANWR stands for "Refuge." What part of "refuge" do you not
understand?

The big question facing us is: "At what cost per gallon will libs begin
yelling for the government to kill all them arabs and get the oil?

We know there is a limit beyond which, even libs will squeak loudly for a
cut of the grease, just like normal folks.

Remember. Libs might look a little light in the loafers for the most part,
but they still have to move their magnificent brains here and there when
they meet with their comrades and fellow anti-Americans.

The human race has been coveting other folk's stuff and taking it by force
ever since the day the first one saw what a good club could accomplish. It
ain't any different today - only the lingo changes.

Where will the tipping point be? $8 per gallon, $10 per gallon, $15?
Wherever it is, it will come just as surely as death and taxes.