Saturday, September 27, 2003


Kleiman wonders if the Bushies were behind the fact that the first OPEC meeting with an Iraqi respresentative voted to cut production. It's hard to imagine they weren't -- keeping the oil price high is one of the goals of domestic oil producers. Otherwise, many domestic drilling projects just aren't profitable. Now, there are arguments that can be made for the joys of oil price stability (oddly never applied to other industries) and arguments for the joys of reducing our foreign oil dependence (but, there are ways to do it without making customers poor and oil companies rich), but basically this is a bad and costly thing.

Just what the economy needs right now.