Word: opec
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...Bradley, his primary opponent, proposed tapping the reserve to aid homeowners, Gore said the move wouldn't help boost supply, because if oil-producing countries retaliated by cutting production, "they'd wipe out any impact from releasing oil from that reserve." Gore now argues that circumstances have changed. The OPEC nations, he said last week, "pledged to increase oil production, and they have not." But the Clinton Administration says OPEC is now producing 3.5 million bbl. a day more than it did last March...
...timing of Richardson's announcement was geared not only to domestic politics but also to global energy politics. This week the OPEC heads of state are scheduled to meet in Caracas, Venezuela--their first such meeting in 25 years. Analysts don't expect much serious policy discussion at the meeting, but the Administration wanted its plan in play beforehand--with quiet support lined up from the Saudis as a way to help mute criticism from such OPEC members as Iran. The move is bound to displease those members who want and need high oil prices--countries such as Indonesia that...
...joke that Cheney's never met a welfare program he liked. When the New York Times examined his stint at Halliburton, it found that he was more an ambassador attracting business through government contacts than a hands-on executive. He's had to explain his past support for OPEC's pinching off supply to boost prices and his company's overseas policy of Americans-only rest rooms. He dithered for weeks over their parting gift to him of about $20 million before pledging to forgo part of it should he win. He skipped voting in 14 of the last...
...refineries, which he says are clogging the supply line, and create a privately managed Northeast Home Heating Oil Reserve in case refineries, as they are now, aren't up to the job of supply. He'll promote an energy alliance with Mexico and Canada, energy resources in non-OPEC regions, and establishing a meeting of G-8 energy ministers to encourage independence from OPEC...
...just trying to help you heat your homes and drive your cars. Is that so wrong? Bush and Cheney will try to find a way to say yes without sounding callous. They'll hit at Clinton-Gore for being wishy-washy, for shape-shifting, and for letting OPEC types kick sand in their faces since the Gulf...