DJ US RICHARDSON: DON'T WANT TO MANIPULATE OIL

DJ US Richardson -2: Clinton Initiatives Later Wed

NEW YORK (Dow Jones)--While expressing concern and sympathy for the plight of U.S. citizens paying high prices for heating oil this winter, U.S. Energy Secretary Bill Richardson said Wednesday the administration of U.S. President Bill Clinton does not want to manipulate the oil markets.

"Let the markets dictate prices - that's been the success of Clinton's economic plan and we're sticking with it," he added.

Richardson, speaking in a live television interview on Cable News Network, reiterated reluctance to use the nation's Strategic Petroleum Reserve until a " really rainy day."

He added that U.S. President Bill Clinton is very concerned about the current heating oil crisis, and that Clinton is planning to announce some new intitiatives later in the day.

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Ray

-- Ray (ray@totacc.com), February 16, 2000

Answers

What is that Guy,Richardson saying?Let Greed and Manipulation "DICTATE" Oil Prices??Another "Government Employee"intimidated by Corporate Gangsters???All the Laws gone,dealing with Price Fixing,Gauging,Usury,Monopolistic Practices????

-- Pops (lost@last.lost), February 16, 2000.

There's a good reason Richardson doesn't want to manipulate oil - he can't, at least not for long and not without making things far worse. Unlike stock certificates or government bonds, when one pulls up to the pump, one expects to purchase actual fuel and not a paper promise for fuel sometime in the future.

-- Nathan (nospamwh@tsoever.moc), February 16, 2000.