Pubdate: Sun, 13 Jul 1997 Source: Oakland Tribune (CA) Author: Gerald M. Sutliff THE TRIBUNE'S editorial suggesting that we hold off from popping our bubbliest is thoughtful and well considered. As a consequence of the proposed (tobacco) settlement, our collective governments (state and federal) can no longer argue that regulation of abusable substances is unworkable. Furthermore, these bodies cannot argue that the consumers' health is upper-most in their minds when making policy. The settlement ensures the survival of a major industry and allows that industry to continue to sell its products. Furthermore, the federal government will continue to support the industry's efforts to sell to foreign markets, thus helping balance our unfavorable trade balance - much like the English pushed opium in China 100 years ago, leading to the first opium war and Eng-land's acquisition of Hong Kong. Implications for our government's drug war should be clear to all but the most obtuse, fanatical or financially dependent upon it. Gerald M. Sutliff Walnut Creek, CA