Free Republic

I’m torn on this one. We need independence from foreign oil sources, and our domestic sources of hydrocarbons have difficulties (e.g. burgess shale = expensive and difficult to frac, the reserve is probably recoverable BUT high production rates will probably never be achieved [that only means the resource will last our children longer, no bad thing]. deep water oil = extremely expensive, many years from discovery to production, etc.)

Wind power I don’t believe in, but solar-thermal (NOT photovaltaic) & geothermal are economic now, I’ve read, but have difficulties with investment and government red tape. I think these industries really need some tax breaks rather than subsidies, that is the way to stimulate private enterprise.

Well NASA is a socialist waste of money anyway, no great loss. (Where does a lot of the ‘global warming’ research come from... NASA)
Private enterprize is finally starting to make it to space, we just need to give them some tax breaks, perhaps loosen some OH&S laws - its space exploration, accidents will happen but nothing ventured, nothing gained.

“John McCain had decided to choose Sen. Joe Lieberman (I-Conn.) as his running mate, but reversed course days before the Republican convention because of “blowback” from the Republican ranks”

sounds about right for McCain... boy would he have got some “blowback”!

“Brennan and Napolitano both said they were surprised to learn from the review released today that al-Qaeda in Yemen was operational.”

OMG. Its their job to know that - they should be out of a job after this

A win for free speech, although personally I thought the images were in poor taste.

I pray for this guys safety though, after a member of the “religion of peace” just recently attacked that Danish cartoonist.

Is McCain going to get primaried? I hope the voters of Arizona get a chance to vote for a real conservative!

Like RINOs Lieberman shows that playing both sides against the middle just serves to get everyone annoyed at you...

A whale is no different to a cow, just bigger. A lot bigger :)

“You may not like Gates, but he’s better than any replacement that Obama would name. This is good news.”

That is so true. Otherwise we’d have a community organiser in the job...

A win for free speech. I pray for this man’s safety though, especially after what happened to that Danish cartoonist recently

They still need someone to buy their oil if they want any foreign currency... i can’t see them cancelling any contracts anytime soon!

Doesn’t Nigeria also allow individual states/provinces to enforce sharia on local populations? I think the last several years have shown a pretty strong link between areas supporting sharia law and supporting terrorism... but that might be considered some type of “profiling”!!

If this administration spent as much effort on national security as they do on “spin” perhaps it wouldn’t have happened... I don’t know, its like they are still in “election” mode, rather than actually, you know, governing.

Krauthammer nails it. Obama is letting the terrorists walk all over us, makes me so mad.

I'm an oil guy, I can tell you that cheap oil is certainly running out. Refineries aren't being built because in 5 years time there won't be enough oil to feed the refineries we have now. The thing about oil project is they have a lead time from discovery to production of about that time scale, so that supply up to five years time is pretty well predicted, and its predicted to be well below demand. Demand for oil is pretty inelastic, which means that the price will have to rise a hell of a lot before demand will be reduced to the available supply.

Chevron have admitted as much, check their new ad campagin http://www.willyoujoinus.com/ where they admit asmuch with facts such as "the world consumes two barrels of oil for every barrel consumed" etc. The peak of oil discovery was in 1968, every years since then we have discovered less and less new oil, while consuming more and more. Cheap oil is over.

My advice is if you plan any travel, do it sooner rather than later, and don't buy property where you'd be forced to rely on the car to get to work.

And you won't see "masses of people leaving the oil industry" because there will still be massive profits to be made (my shares have doubled in price in the last 12 months). There will still be oil around for many many many years to come, but in increasingly more inaccessable and expensive places, and certainly not enought of the stuff to meet demand except demand thats been reduced by very high prices!

Damn. I thought this insurgency was in its "last throes". We needed more troops there from the beginning. Rumsfield's an idiot.

Thanks, yes I'm relatively new. I thought Bush speech was great with all the veterans there but even though I voted for him I disagree with some policies - like we should of had twice as many troops in Iraq from the beginning and should not have disbanded the Iraq army allowing them sneak off with all the munitions being used to by the suicide bombers against us now! I'm seriously concerned this is going to turn around and bite us in the ass in ten or twenty years time and you should be too. Just though I'd highlight that Bosten news article seeing as I hadn't seen it discussed here.

The CIA would disagree

The CIA believes the Iraq insurgency poses an international threat and may produce better-trained Islamic terrorists than the 1980s Afghanistan war that gave rise to Osama bin Laden and Al Qaeda, officials said yesterday.

A classified report from the agency says Iraqi and foreign fighters are developing a broad range of skills, from car bombings and assassinations to coordinated conventional attacks on police and military targets, officials said.

Once the insurgency ends, Islamic militants are likely to disperse as highly organized battle-hardened combatants capable of operating throughout the Arab-speaking world and in other regions including Europe.

The May report, which has been widely circulated in the intelligence community, also cites a potential threat to the United States.

I'm not a communist, far from it. The growth of suburbia has been subsidised by the cheap cost of petrol, once that changes suburbs will no longer grow and may even shrink. I don't think I live in utopia or will be protected from the coming crisis, but at least I'm not wasting the stuff. But hey, people have got a right to waste stuff, I agree with that.

I'm not a fan of Bono, or Moore, don't be so presumptious.

By the way, it's nice that you're willing to give away everything you've worked for to the State, but don't imagine you have the right to make such decisions for others.

I never said that, I said a SMALL percantage, you obviously have a problem with reading comprehension. By the time I die I will have benefited a lot from OUR governments spending (roads, law & order, SECURITY - Aghanistan & Iraq doesn't come for free!!) so I don't mind a small proportion being taken - I'm not going to need it, and my children will have earnt their own way in the world so anyting I leave them will be a bonus.

Great post. Food for thought. I've seen predictions by major banks of $100/bbl oil in a few years and even $380/bbl oil in 10 years. Thats certainly going to cause a drop in demand...

I've seen my oil stocks double in price in 12 months, and I live inner city so I hardly ever use the car, so personally I'm not bothered :)