Election year politics could solidify support for ethanol, ANWR

04/15/2002
Mindful of how politically volatile rising gasoline prices can be in this election year, Congress and the White House are taking preemptive steps to assure voters they have the situation under control.Some economists say that when oil prices jump from $20/bbl to $30/bbl, it raises the level of the Consumer Price Index (one indicator of inflation) by 1 percentage point and reduces the level of gross domestic product by 0.5% over a year. But as Deutsche Bank analyst Adam Sieminski notes: "The risk is for a larger negative on growth if confidence and financial markets take a big bearish hit."Proactive stanceSec. of Energy Spencer Abraham Apr. 11 was scheduled to meet with several oil and gas...
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