Posted on 09/28/2009 4:13:22 AM PDT by IbJensen
In 1960, a handful of resource-rich Third World nations, tired of being shoved around by the giant oil companies, met in Baghdad to discuss their mutual problems. Attending were Saudi Arabia, Iran, Iraq, Kuwait, and Venezuela. They decided to form a group they named the Organization of Petroleum Exporting Countries -- "OPEC."
At the time, the idea that a handful of poor countries could stand up to the "Seven Sisters" (Esso, Mobil, Shell, Gulf, BP, Chevron and Texaco) -- let alone their patrons, the United States and Europe -- seemed like a fantasy. Certainly oil lay within their borders but the oil companies pumped it out of the ground, and shipped it by pipeline or tanker to its destination, all the while dictated a price. One habit that particularly galled the OPEC nations was "discounts." Although the producing countries had long-term contracts, every time the world price dropped the Seven Sisters would announce "discounts" and cut their royalty payments. At best, OPEC hoped to end this practice.
Nothing much happened over the next ten years until November 1970, when America's domestic oil production hit an all-time peak of 10 million barrels per day. Then production began to decline. It had never happened before. The Texas Railroad Commission, which had limited production since the 1930s to forestall price collapses, told American producers that all bets were off -- go ahead produce all they could. It didn't make any difference. American oil production had peaked. In three short years our imports shot from 18 percent of consumption to 34 percent and OPEC suddenly had market power. Most of American subsequent history has been written around this market shift.
Is there another OPEC on the horizon right now? There is. It's called Special Drawing Rights (SDRs) of the International Monetary Fund (IMF).
(Excerpt) Read more at spectator.org ...
If we don't act we'll forget how to make all those things we let China make for us. It's time to admit that gleefully rushing into a 'service economy' stance was ridiculous. Now our 'service economy' has been outsourced to India and Pakistan.
Some manufactured goods are shipped directly to Mexico where they are untruthfully labeled "Made in Mexico" then shipped to the United States.
Ridiculous!
Re industrializing the US might be impossible when you consider that the goal of the environmental movement is to de industrialize the country. Since they have broad public support and even more importantly a body of law in place to use I think getting anything done regarding rebuilding our industrial capacity will be near impossible.
I think everyone should be forced to buy only American Products or be fined or jailed.
It's not an unreasonable assumption to believe that the status quo could easily die away. Reestablishing a healthy manufacturing base isn't impossible. Even rounding up all the illegal invaders of our nation isn't impossible as proven by President Eisenhower in the 50's. At that time there were under 2 million of the miscreants, but Ike had them all rounded up, accounted for and shoved back over the border.
We can round up the illegals as we work towards reestablishing America as a true economic force to once again be reckoned with.
Just think, before, during and after the end of the second world war there wasn't a nation in the world that didn't have American cars on their highways. They even used our toasters, coffee pots, radios and yes, even our Christmas Tree ornaments.
It's not too late but we must start now. The first thing needed is to clear the decks: that is, the WH and the complicit Congress!
I agree, improving our established manufacturing base isn’t impossible, most Americans donot realize how much DOMESTIC mfg already contributes to the GDP with fewer direct employees than ever! These domestic mfg have managed to negotiate the thicket of anti-mfg Gov regs, taxes, poor trade policies and crony criminalism. The first thing that must happen is a complete change of Gov! We must provide incentives to mfr’s to do so here.
*Just think, before, during and after the end of the second world war there wasn’t a nation in the world that didn’t have American cars on their highways. They even used our toasters, coffee pots, radios and yes, even our Christmas Tree ornaments.*
That’s because the part of the world that was developed at the time was shortly thereafter blasted flat by explosives during the war.
I know full well what happened to greater Europe.
*Just think, before, during and after the end of the second world war there wasn’t a nation in the world that didn’t have American cars on their highways*
What part of this statement is ambiguous?
Nit-pick someone else!
Why do I care? Because you told me to re-read [i.e., pick for nits] your comment and spot my error, which I was unable to do:
*With all due respect, J-Damn, I don’t believe you read your comment before posting. I referred to Arab nations,China, Africa, The British Isles and Ireland, South America, Canada, Australia, et al.”
does not equal:
*Just think, before, during and after the end of the second world war there wasn’t a nation in the world that didn’t have American cars on their highways*
Until about 1960 there wasn't a nation in the world where one wouldn't see an abundance of American automobiles on foreign streets and roads.
One could find in foreign homes a plethora of American manufactured appliances, etc.
I still fail to understand the sport in 'nitpicking' responses on a thread to the point of tedium.
*Until about 1960 there wasn’t a nation in the world where one wouldn’t see an abundance of American automobiles on foreign streets and roads.*
Until about 1960 the rest of the world’s industrial base was either non-existent or being repaired. It wasn’t because of the quality of the product or our trade policies.
*I still fail to understand the sport in ‘nitpicking’ responses on a thread to the point of tedium.*
You fail to understand a lot of things, I’d wager.
And I'll wager that you have a very serious quirk in you personality.
You are arrogantly crude and cruel to others on Free Republic and as such should be ignored.
I will try to help you in this difficult stage of your sophomore year in high school.
The following are just a few of the comments you've puked out to others on this website. Many comments you made border on utter filth; therefore I have ignored them in this response to you.
I don’t have time for remedial instruction.
You’re not very adept at spotting sarcasm, are you.
I know you’re not this obtuse. It’s good that you know how to look at a map though, congrats. Blah blah blah...go back to talking in the corner, parrot.
You’re addicted to being insensible, nonsensical, talking about things of which you have little knowledge and having thin skin [are you a liberal?]-and having the last word.
As for banning anything else, I hope the government does ban soda—it’ll teach the fat asses who drink what it feels like to be persecuted.
You were dismissed.
That’s real original, I think you said it about half-a-dozen posts before this.
Neither you nor your phony pretend fairy-tale nonsensical twaddle are the boss of me—therefore, I can’t be dismissed.
You, very obviously, would not know sin if it sodomized you.
Surely you’ve heard the phrase “Don’t sh*t where you eat”, right?
Seattle sucks, it’s one of those cities where even the men have vaginas.
As a clinical psychiatrist I should have spotted the anti-social attitude in your first response to me.
Unfortunately, from what you have responded to me, as well as others, it is plain to see that you are a borderline sociopath.
I would advise you to get help and to not respond to any further posts as once you begin banging on a keyboard you float off into a hate-filled frenzy.
That's, of course, just my opinion. You may just be another ninnyhammer.
*As a clinical psychiatrist I should have spotted the anti-social attitude in your first response to me. *
Haha, so now it takes a Clinical Psychiatrist to spot an anti-social personality? Well, you must be very busy at Free Republic.
Let me guess, you also have a supermodel for a wife, six-pack abs, a black belt in karate, and are also a sharpshooter, like most other keyboard commandos around here, too, right?
*Unfortunately, from what you have responded to me, as well as others, it is plain to see that you are a borderline sociopath.*
While my posting history is not the issue here, how do you mental sloppiness such as your own if we do not stand for it in leftist posters or public figures—why stand for it from our supposed FRiends? You made a moronic statement, and [like a lot of people] rather than elaborate or admit error you dig a further hole and then attempted to change the subject. Why don’t you tell us what kind of personality disorder displays that sort of behavior, Doctor?
Enough of your petty diversions: the subject at hand is why, exactly, once upon a time in some glorious past there were more American cars on the roads of foreign lands. Please, Mr. Expert in American Industrial History as well as Clin Psych, tell us all why this is so. If it weren’t for that little ol’ world war which left America with over 50 percent of the functioning industrial capacity of the globe—then what?
Your posting history is the issue here.
No, the issue here is your stupid posting which started all this. But keep trying to change the subject, by all means. It’s just you and me here, no one is even paying attention.
Buzz off Bozo! I’ve had quite enough of your bloviating sophomoric inanity.
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