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Analysis: Oil price rise raises specter of global recession
#7
Most of oil price is day traders and fear of this and that. It is not actually very often a shortage of oil. The pipe line they want to run from Canada to the Gulf Coast to me is the biggest joke. Exxon uses their commercial about the jobs building it. Yes, for the time it takes, and then the thicker lining of their pockets begin. Just as at the end of the year, instead of the surplus helping drive down costs, they sell it off to other countries because of their taxes. There is no worse place for refineries than the golf coast. We should offer some breaks for taxes if they have surplus at the end of the year to help bring prices down, not drive it up. That oil is not staying in the US and until there are some ground rules set up about where that oil goes, until then I say that doesn't get constructed.

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