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Saturday, September 03, 2005

So Bush is selling crude oil from the strategic reserve...

...to supposedly help with the fuel shortage.

Dumb, dumb, dumb.

The problem is not so much supply right now as it is a refining problem. Simply putting more crude out there on the market is not going to have any significant effect on gasoline prices.

I've no idea why he would do such a thing, but there it is, defying all wisdom regarding petroleum economics.