Posted on 11/29/2007 4:29:39 PM PST by shrinkermd
Negative. Not even close. In fact it's practically nothing
Net generation (trillion kilowatthours) 4.05
Coal - 49%
Nuclear - 19%
Natural Gas - 20%
Hydro - 7%
Oil - 2%
Non-hydro Renewable - 2%
My bad, I guess it was Texas that uses 60%. We can think the natural gas prices on the power generators.
Only 89 million cubic feet of 2050 billion cubic feet per month comes from sources from outside the US/Canada. I’d much rather pay for natural gas than for oil.
Make that 2050 million cubic feet.
In 2000, 46 percent of electricity in Texas came from natural gas-fired plants, 41 percent coal and lignite fired plants, and 13 percent from nuclear
That leaves less than 1% that even could be foreign oil.
You should have been around for ‘stagflation’ back in the 70s.
That's the most fatuous and delusional point of view I've read in seven years on FR. CNBC is heavily biased to the Republican, pro-business, pro-Bushie side and only rarely allows dissenting points of view.
Deflation in 08 is a real possibility.
LOL. Luckily I was just a little tyke back then (I was born in 1970). My dad had to do all the worrying over finances back then...;)
Whahhh? That is a claim I have heard no one else ever make. What is your basis for believing that Greenspan should have reduced rates faster (in 2001)?
That was 2000, they are building NG generation plants in Texas like crazy now. Enviros got coal and nukes shut down here.
PS - Do you not know the NG is a petroleum product??? The same people that sell you your gasoline also will sell you NG for your house and electricity. There is no getting away from the “all powerful” oil companies. The US is also importing quite a bit of NG now too.
Nobody wanted Al Sharpton and his goon squad accusing them of racism for not extending such loans to unworthy borrowers.
Actually, since most oil in the world, including oil from OPEC is priced and sold in dollars, a good amount of the price increase can be attributed to the weak dollar.
Like I said, he rode the market down. The main reason interest rates were falling had nothing to do with his policy. It had to do with the weakening economy.
Watch the pre-market numbers tomorrow morning. Theyll the put the controls on by noon.
If this was 1999, I would agree.
**********
It’s 5:55 A.M CST and the numbers look good. Everything’s up-— S&P 10.40, NASDAQ 19.00, Dow 86.00...and oil’s down 1.79.
We’ll see.
Firstly, did you mean to say the "dollar" is down 33% vs a basket of currencies?
If so, you made my point, which is that crude oil prices are connected -- but independant from what US oil companies charge for a gallon of fuel in America.
The emerging market countries are buying oil contracts as fast as their little currencies can handle, thereby driving crude up.
Add in Iranian threats to shut the Straights of Hormuz, and people are stocking up on crude futures.
It's a good thing (no thanks to Democrats) that most large American oil companies have big reserves, capped wells, storage, etc.
You say the Fed is concerned about inflation, yet is not concerned about the dollars value? Sorry but it just does not add up. Inflation lowers the buying power of the dollar, a dollar with less buying power has less value.
When a product is a dog, when it wont sell, the product is less valuable to the merchant and it is marked down and put on the clearance table in the back of the store. The product is discounted, the Fed is doing the same thing to the dollar when it keeps lowering the intrest rate.
Somehow I dont recall a smart merchant moving his best selling merchandise to the discount table.
The Fed should just do it now instead of “signaling” a cut. Cut 50 bp now. Why wait?
Sorry yes, the dollar is down 33% vs a basket of currencies. If oil going up was due to the dropping dollar, oil would only be around $30 a barrel, not $90.
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