For Clinton/Gore high oil prices are an emergency. They are still feeding on the fantasy that they have made a positive contribution to the economy over the past 7 years.
An oil price driven recession would bust that bubble in a New York minute, and it would be no more their fault than the good economy has been their accomplishment.
But this is where the unfairness of public opinion will bite them in their backside, and they will do anything to forestall the recession until after the November election. The strategic petroleum reserve is not large enough to make any more than a cosmetic difference around the margins, but even if there is an oil driven recession, selling from it will give Clinton/Gore talking points, while they attempt to blame the high oil prices on their opponents.
So much for the definition of "emergency". Can you help me with that "is" thing? I never did understand that one.
"is" you lost me. Be glad to help but could not find the "is" you were talking about. Went back and re-read my message and found a couple of mistakes, I make mistakes when I am really ticked off. Can you imagine the politicians declaring there will be no farming in the midwest or Calif and crying about a food shortage. Most Alaskans feel that since the politicans in the lower 48 want to lock up Alaska to make points with the Enviromental voters we hope gas goes to ten dollars a gallon in the lower 48. Here gas is $1.56 to $1.65 for regular.