Greenspan: Oil Costs Strain Energy Markets (let the frog's boil in water)

[cthrumatrix]

Greenspan: Oil Costs Strain Energy Markets
Tuesday April 5, 3:05 pm ET
By Jeannine Aversa, AP Economics Writer
High Oil, Natural Gas Prices Are Putting a Strain on Energy Markets, Greenspan Says

WASHINGTON (AP) -- High oil and natural gas prices have put energy markets under a degree of strain that hasn't been seen in a generation, Federal Reserve Chairman Alan Greenspan said Tuesday, but he warned policy-makers against interfering with market forces he hoped would eventually stabilize prices.

The Fed chief expressed hope that market forces would spur conservation by businesses and consumers and greater energy exploration by energy companies. That should help get prices under control, he said.

He also urged policy-makers to be careful in any responses they might make to allow market forces to work. Greenspan, in prepared remarks to an energy conference, warned that they should avoid any action that would "distort or stifle the meaningful functioning of our markets."

Greenspan spoke via satellite to the National Petrochemical and Refiners Association meeting in San Antonio, Texas. A copy of his prepared remarks was distributed in Washington.

snip

http://biz.yahoo.com/ap/050405/greenspan_energy.html?.v=8&printer=1



Instead of telling America to be concerned about Oil demand...Uncle

Al suggests "we not act too quickly which would hurt the markets".


Truth.... went out years ago.

[gratuitous]

1. Greenspan: Ignore consumers, protect oil companies

Thanks, Uncle Al, from the bottom of the tank.

Overrich gilded motherfucker. I'd like to see him survive for a year on minimum wage and no health benefits. He'd be dead by January 10.

[phantom power]

2. The question is: where will they stabilize?

When demand exceeds supply, the effect on price is nonlinear. The new "stable" price could be high enough to be disastrous.

This neocon blind faith in lassaiz faire economics is going to be the death of us. Maybe literally.

[Deep13]

3. "Oil Costs Strain Energy Markets"

I read all about it in "No Shit! Weekly".

[cthrumatrix]

4. Uncle AL doesn't want to alarm the SUV sheeple.... keep the frog boiling

in water until fully "cooked".