Thursday, January 25, 2007

ODD OIL


The President's State of the Union Speech had the usual laundry list of sweet sounding goals and generic dreams. One issue that's rise to the level of inclusion in the speech, up there with things like the Enviroment, fiscal responsibility and The War, was an issue I have to admit I found a little odd. Bush's call to double the Strategic Oil Reserve. Now one reason for doing this could be Bush is planning to attack Iran, but you couldn't do that fast enough to work as a buffer to oil market shock. So I suspect the move is an attempt to put in place a floor to falling oil prices to protect the Oil Companies.