Wednesday, March 16, 2005

Stocks down

What happened to make the market go down so much today?





The Wall Street Journal says it's largely due to high oil prices.  I
heard some politician trying to justify drilling for oil in Alaska
today.  He says we are having an oil "crisis" in the US, and we are
being held "hostage" by OPEC.



What if everybody driving one of those huge gas hogs decided to
drive a fuel efficient, clean burning car?  Or what if people walked,
or rode a bike, or took public transportation, or telecommuted?  I
suspect the gas crisis would go away... or maybe I'm over
symplifying....



Buying oil company stocks might be a smart move as long as George is in office.



Rogers and Gold, reporters for the WSJ, report the following in tomorrow's WSJ:



The Senate, after years of
resistance by environmentalists, endorsed a White House-backed plan to
authorize oil exploration in a portion of Alaska's Arctic National
Wildlife Refuge.


The 51-49 roll-call vote illustrated again the
business-friendly tilt in Congress following November's elections, and
is a victory for oil giants such as Exxon Mobil Corp., which long has lobbied for a chance to drill in the refuge.



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