Jim Puplava is an investment advisor who runs a web site called
Financial Sense Online. Jim does an extended (i.e. 3 hour) weekly
webcast where he discusses the latest developments in the financial
and commodity markets as well as trends in the overall economy. Mr.
Puplava is very biased toward the commodity markets, (i.e. gold,
silver, and other precious metals), as well as widely followed
commodities such as oil. I think it=92s safe to say that politically,
Mr. Puplava is very wary of politicians and government in general.
In the third hour of this week=92s program:
http://www.financialsense.com/fsn/main.html
Jim and one of his associates discuss the oil market and where oil
prices are headed. (In a word, according to Jim and John, oil is
headed even higher. Ho hum =85)
While listening to Jim=92s commentary on what our political leaders
could do [right now] to alleviate this crisis, Mr. Puplava recalled
the response of our Government to the Arab oil embargo of late 1973
and early 1974. Mr. Puplava mentioned that the Congress immediately
passed a federal law setting the highway speed limit at 55 miles per
hour. This reduced highway speed (from 65 and 70 miles per hour down
to 55 miles per hour) immediately reduced gasoline consumption. Mr.
Puplava estimates that reinstating the 55-mph speed limit might reduce
demand for oil here in the United States by as much as two million
barrels a day. I don=92t know how he comes up with this two million
barrel figure, but reducing the speed limit to 55 would surely reduce
oil demand by some amount, so maybe it=92s time to consider reinstating
the double-nickel speed limit.
Alan C. Lawhon
Huntsville, Alabama
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