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Posted by MoparNorm on Thursday, February 28, 2008 at 21:53:05 :
In Reply to: Re: President Bush should come to the Adirondack Mts posted by D. Sherman on Thursday, February 28, 2008 at 21:24:30 :
...global economy and oil goes to the highest bidder, right now that's near $100 a barrel.
However the key word is "imported", the Arabs are still using the dollar pegged to the price of oil, if they switch to Euros we'll be really screwed when we import oil, as the Euro is $1.50 and climbing, or to put it in perspective, you can add 33% more to the price of a barrel, instantly, to over $133, if they go off the dollar standard.
Using oil from ANWR would eliminate the Arab middleman, but since we've been sitting on our duffs and not drilling, it will be years before we see any ANWR oil, even if we start tomorrow.
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