Posted on 05/28/2008 9:28:47 AM PDT by milwguy
MIDLAND, Mich. (AP) -- Dow Chemical Co. will raise product prices by up to 20 percent almost immediately to offset the soaring cost of energy and raw materials, and the CEO of the chemical giant lashed out Washington on Wednesday for failing to develop a sound energy policy.
"For years, Washington has failed to address the issue of rising energy costs and, as a result, the country now faces a true energy crisis, one that is causing serious harm to America's manufacturing sector and all consumers of energy," Chairman and Chief Executive Andrew Liveris said in a statement.
"The government's failure to develop a comprehensive energy policy is causing U.S. industry to lose ground when it comes to global competitiveness, and our own domestic markets are now starting to see demand destruction throughout the U.S."
Liveris said soaring costs for Dow are "forcing difficult discussions with customers
(Excerpt) Read more at biz.yahoo.com ...
how many billion bbls constitutes ‘elephant’ in your book?
Washington had addressed this issue. They've said: no new nuclear plants, no new refineries, no new oil drilling, no new hydro-electric dams, no increase in CO2 emissions, no new coal mines, no new windmills, no . . . . no . . . . no . . . .
Pretty soon we won't be allowed to fart because the CO2 emission will harm the polar bear.
This is the translation: sit down, shut up, back to the stone-age with you. I'm just surprised how many people put up with it.
It’s not so much quantity but velocity. Prudhoe was an elephant and produced 2 million bpd for a while. ANWR might hit 1 million bpd. It might be 200 billion barrels like Bakken but if it can’t be produced at huge velocity it is not an elephant.
I’m just surprised how many people put up with it.
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This is the crux of the problem. Washington gets away with what it knows the people will not fight for....this is a classic example. The American public needs to start telling Washington what they will and will not do -— we saw how that works with the first big attempt at AMNESTY for all illegals. It worked very well -— the people must learn that THEY DETERMINE WHAT THE GOVERNMENT DOES, AND HOW MUCH GOVERNMENT WE HAVE, not the other way around.
That was the intent of the founding fathers -—
Nobody knows until they drill and see.
Washington caved to the Enviroweenies. We should have continued going Nuclear, but noooooooo. And once we had Electricity “too cheap to meter”, then we could have converted that to whatever form we needed for transportation..
If there is a rally in DC, I am there.
He’s an Aussie and he just gave the maximum allowed ($2300) to Hillary, via his wife, Paula.
Dow got rid of their crackers shortly after buying Union Carbide. Mainly users of Natural gas.
Liveris received a CEO bonus of well over 15 million last year. The company has never failed to pay a dividend. Through these price increases they will insure the bonuses and dividend will continue. Oh, if that fails they’ll just cut more U.S. jobs and move to cheaper labor over seas. Wait they’ve already done that.
I have come to the conclusion that the paradigm that needs to be destroyed is the concept that the government should dictate a "comprehensive energy policy" of any kind. That, IMHO, is the root of the problem.
No comprehensive policy on an industry as complex and dynamic as energy supply developed by people in Washington will ever be anything more than a train wreck waiting to happen.
If that were so, we would at least expect to see shortages or temporary supply disruptions (such as gas lines or factory closings) somewhere.
I have seen no such thing. The price run up we see now is a bubble driven by speculators who are betting on future shortages and disruptions.
The pipelines are not full, but shortage at the spigot wouldn’t show up until the pipelines are way down, which they aren’t yet.
Congress, however couldn’t find a drop of oil if somebody spilled a bucket of it in front of them, not even if they take all Exxon’s profit.
You seemed confident when you quoted, “The estimate is that ANWR would provide approx. 6 mos. of oil IF IT WERE THE ONLY SOURCE OF OIL IN THE WORLD.”
I liked your 2nd answer much better, “Nobody knows until they drill and see.”
<<<<< Scratching head? >>>>>>>>
Are you saying inventories are low?
I would not know, but that is what the reports say. If the pipeline holds two months supply, they are down half an hour every day and losing ground gradually.
I DESPISE the way some who attempt to pass as conservatives buy into the "facts" provided by those who have a vested interest in placing our resources off limits so we will be wards of the gov't. and at the mercy of our enemies.
I guess that was supposed to be clever. :::shrug:::
1800 drill rigs is hardly indicative of a stopped exploration situation.
So what new locations in US territory have been opened up for exploration in the last decade? (You must know since you have this 1,800 drill rigs figure.)
Want the refinery or not? Owner must either sell or upgrade. 220,000 barrels capacity, 175 employees.
1800 drill rigs. 1400 natural gas, 400 oil.
Globalism is not furthered when we ‘retreat’ inside our own continent.
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