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Headlines in Monday newspapers and on several web news services stated that President Bush was going to ask the Saudi crown prince to increase oil production, ostensibly to increase worldwide supply and thus lower prices. According to 2003 DOE statistics, the US imports about 1,700,000 bbl/day of crude oil from Saudi Arabia and 1,600,000, 1,500,000, 1,200,000 bbl/day from Mexico, Canada and Venezuela, respectively. Can anyone tell me why the same overture Bush made to the Saudis wouldn't be made to these other 3 oil exporting countries with whom we do a lot of business, all of which are in more politically stable areas of the world and certainly much closer to home? Based on an NPR report I heard, Saudi Arabia is already producing oil at their infrastructure's capacity, so it doesn't appear to be an available capacity issue. Wayne |
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