It’s not a bubble. Wishing won’t make it a bubble. The only way to make the price of oil go down is to replace it.
If I were the GOP Presidential candidate...I would propose:
-open all of America for drilling and strongarm Congress to go along with it or face my wrath
-this would create jobs AND solve the energy crisis at the same time
There might be a bubble in fiat, but oil is actually worth something.
If you knew that in ten years your industry was going to be basically out of business, wouldn’t you grab every dollar that you can now?
Alternate fuels will be here in the next decade. They’ll be in full production and the ragheads will own a litterbox with idle wellheads.
“It’s not a bubble. Wishing won’t make it a bubble. The only way to make the price of oil go down is to replace it.”
There’s another way:
- Invade Saudi Arabia
- Toss out the sheiks (and Wahhabism along with them)
- Lower the cost of Ameri-Saudi oil at the wellhead to something more inline with what the _real_ cost of producing it there (I would guesstimate about $50 per barrel)
- Sell as much needed to fill the gap in American demand to guaranteed sources of supply to America first
- Sell the rest on the world market, but bypass commodities markets, with first choice to the Chinese (this would assauge their concerns about our control of the oilfields).
- Let the commodies speculators deal with the new reality of pricing.
The lifeblood of our economy is something which is indeed worth fighting about.
War for oil?
Of course!
- John
Guess again.
With more oil.
With only Bush rescinding the Executive Order against off shore drilling, the price of a BBL of oil right now is 91.53
Yesterday the stock market caught up with the speculators that pushed the price up to make billions of $'s by taking a hit of over 500 points.
It's recovering a bit now, up 35.66
With more oil.
With only Bush rescinding the Executive Order against off shore drilling, the price of a BBL of oil right now is 91.53
Yesterday the stock market caught up with the speculators that pushed the price up to make billions of $'s by taking a hit of over 500 points.
It's recovering a bit now, up 35.66.
Of course the price of gas has gone up quite a bit in areas where the companies think they can get away with it around the current "climate change" areas.