ML
Livingston TX
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Joined: 02/14/2004
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Talking Points Memo Who is hurting you at the gas pump?
"Those apologizing for the greedy oil companies say it's a 'supply and demand issue,' but that's bogus. OPEC intentionally keeps the oil harvest as low as it can in order to drive up demand, while here in the USA oil companies regulate refining capacity. Add to this the oil speculators who buy oil contracts for delivery in the future. They don't want the actual oil, they just want the paper. Every time the speculators bid up the paper price of a barrel of oil, Chevron and other companies raise the price at the pump. This is obviously a rigged game and working Americans are being hurt big time. Congressman John Larson of Connecticut has introduced legislation that would make any speculator who bids on oil actually take delivery of the barrels. If Congress would pass Larsen's bill, the speculators would be forced out of the oil trading industry. The U.S. economy is getting hammered by oil prices, and unless Congress gets control of the situation, this country will enter a very bad economic period for a very long time. We are all at grave risk."
News Link: Congressman proposes energy price legislation
ML
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DanHouck
Ajijic, Mexico
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Joined: 07/03/2003
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This will work about as good as suing OPEC, another bright idea from the Democrats. The oil markets, already some of which are offshore, will become fully offshore.
Drill now, drill here, pay less. We have enough oil shale alone to last for decades. Then there's the huge tar deposits under North Dakota and all that oil the enviro-wackos and their fellow travelers in D.C. have placed off limits off shore and in Alaska.
Forget this BS about it will take years. If we don't do it now, where do you think the country will be in 10 years?
SHUT DOWN.
Dan & Ann D.
1998 Country Coach Allure 36'
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eltejano1
Woodville, Texas
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Joined: 08/05/2006
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Dan in NM:
I have no sympathy with the environmentalists - zero! But it seems to me that we would be better served by massive federal/private investment on alternative energy - namely, nuclear electric. There is a future for tar and shale but it will be primarily used for chemicals and plastics. It takes too much energy to refine into a usable fuel and it's only a stop-gap measure anyway. We will probably have to drill in ANWR and offshore Florida/Calif just to survive long enough to make the switch from petroleum to electricity - and will have to pay ever steeper prices for foreign oil.
It's clear to anyone with historical knowledge and social vision that the Age of Petroleum is in it's death throes. When my great grandkids take their children to the Auto Museum in MI, they will see the old, heavy, inefficient, smelly internal combustion engines and laugh at how big and awkward they were - like the 19th century mining tools at the museum in Tombstone Ariz!! "Did people really have those in cars, Daddy?"
We shouldn't think we can solve this with drilling for more oil - we can buy more time, that's all. World reserves are depleting and those remaining are located in hostile areas. We MUST make the change to an all-electric society and we had better get started. Civilization itself may be at stake here - never mind the health of the planet.
Jack
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eltejano1
Woodville, Texas
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It sounds like like a great idea, ML, but Dan's right. They'll just move to some island somewhere and continue thir trading.
Jack
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AO_hitech
SF Bay Area
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Joined: 08/09/2004
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DanHouck wrote:This will work about as good as suing OPEC, another bright idea from the Democrats. The oil markets, already some of which are offshore, will become fully offshore.
Now, I don't know much about futures markets. However, they were "regulated" before and it worked then. I would assume that if it worked then it will work now. It certainly is the problem, and that seems like a reasonable solution.
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topflite51
In The Desert of Nevada
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Joined: 05/13/2004
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eltejano1 wrote:Hi, "rather be travlin" from Tyler - right up the road! More famous as the home of former Houston Oiler Earl Cambell than for roses. 
Awhile back, I suggested that an oil crash like '84 might be a good thing - but I was shot down and proved wrong. Tell Topflite you are praying for a crash and see what he says.
Jack
Jack Actually Jack a reasonable drop to somewhere between 60 to 80 per barrel would be sufficient to continue the development of other sources and forms of energy. It wouldn't set back energy policies like it did in 83/84. It would however, get rid of a significant number of speculators and their financial backers. I would argue that supply and demand definitely justifies the 60 to 80 range, anything above that is being pushed by pure speculation.
 David
Just rolling along enjoying life
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slowlane
Millersville, MD
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Joined: 11/15/2003
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Speculator-bashing is no more to the point than oil company bashing.
Successful speculators provide a useful economic service by helping smooth out fluctuations in prices.
Unsuccessful speculators go bust. We can all hope to see a great example of the latter soon.
07 Rev 40E
Happily and guiltlessly maximizing my carbon footprint
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slowlane
Millersville, MD
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"Suppose you were an idiot. And suppose you were a member of Congress. But I repeat myself."
Once again proving Mark Twain's timeless wisdom, today some of them were proposing nationalization of oil refineries.
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DanHouck
Ajijic, Mexico
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Oil commodity markets are already operating offshore. It takes nothing to shift from the U.S. to offshore.
Government creates and invests in boondoggles, period. Ethanol is a classic example--a fuel for which production in the U.S. consumes MORE energy than it produces, cannot be distributed in pipelines but must be hauled by truck, and which has severely dislocated food markets.
Government isn't the answer, it is the PROBLEM.
I want these idiots in government and the courts to get the hell out of the way and stop "investing" my money. Freedom is the answer as always. Freedom to produce the energy we need!
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jeffnkelly
St. Louis MO
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Joined: 02/15/2006
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SOAP BOX MODE ON
Today is the first day I have really lost it... over $4.00 / Gal. We are no longer being fleeced by big oil and congress... We are being held hostage. I wonder what its going to take to bring oil prices down. The Saudis are still wondering why it is so terribly high.
I sure wish I could run my V10 on something other than fossil fuel. We have cut Waaaaay back at home to allow our lifestyle. We have trimmed that down to a minium. I usually top off the fuel each time we park after a trip. I don't think I will top off before parking when we return. We left for the Dr. this a.m. It was 3.85/gal. On the way home, 4.00/Gal.
We keep hearing murmurings about an oil price drop. I don't think we will see anything until the elections. For the record. I am NOT BLAMING CONGRESS for higher fuel prices. Its a shame that the almighty US dollar is nolonger the currency it once was... It still jingles and folds but its nolonger a valued instrument. I wish I had more ($)so I could maintain our lifestyle without all the sacrifices. I hope its only temporary
The US Dollar is devalued. Gold is up, financial instruments are at a low. Fuel prices are affecting food and textile prices. Car Dealers are glutted with SUV's. RV DEalers in our area. No stock rotation at all.
We are almost in dire times my friends... Dire times...
SOAP BOX MODE OFF
*wheewee*...
It can only get better...
I hope we can all keep our collective chins up...
Smooth roads ya'll.. Smooth Roads....
Smooth Roads!!!
2006 Damon Challenger 372F Triton V10
2007 Ford Edge
JeffnKelly
St. Louis MO
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