Comments for Want Cheaper Gas and Oil? End the Damned Wars! »
Posted By populist 1 year, 5 months ago in Business & Financeit's not just oil that has been driven up in price because of the war. As energy costs have gone up, so has the cost of food. As well, to the extent that Americans' food is imported, they are paying in shrinking dollars, whose value is being driven down because of the war.
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engineer1 year, 5 months ago
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Locky12Comment removed: Spammer, Abusive34 Replies
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DropkickaLib1 year, 5 months ago
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Actually, China and India would still be substantially increasing their purchases of oil and food on the world market so the war is not the only, maybe not even the most important factor in prices, since there are other demand factors.
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populist1 year, 5 months ago
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you're right, spending is fiscal policy. So yes, both fiscal and monetary policy are totally off base and need to be reformed.
By printing, I mean the creation of new money - whether it's done by computer entiries and an artificially low interest rate or by physically printing money (which is rare), doesn't matter. the end result is the same.
This government has been destroying the value of the US dollar for a long, long time.
Too large of an M3 money supply, and too much borrowing/spending can only lead to ruin.
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MRCOFFEECAKE1 year, 5 months ago
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Yeah sure.
and when one oil freighter was grounded the prices increased
20% worldwide in the early 80's (from .78 to nearly $1.00
for several months)..One hurricane sent oil prices up 50% (from $2.20n to $3.50 in 3005, but during election months
(in Oct. 2002, ($1.75 to $1.45) 2004 ($2.00 to $1.65) and 2006 ( $2.65 to $2.00) they can drop 20%?????..You must be an idiot, or a spokesperson for those devils!
Those poor stressed out oil companies.
They are more evil than tobacco executives.
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MRCOFFEECAKE1 year, 5 months ago
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Look who voted to sink this story.
What a list of war mongers who still don't get it.
So much for supporting American ingenuity or even thinking the horrible thought of mankind becoming more civil.
More of the same?? How original. How pro-death and destruction. How blind.
How pro-pollution. How pro-oil company of them!!
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fourthtunz1 year, 5 months ago
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MRcoffeecake, too many people are still living like it's the 50's and believing everything our government and media tell us is true.
They find it hard to believe that our government was taken over a long time ago by special interests. Eisenhower warned us at the end of his term that we should beware undo influence by the special interests and the Military industrial complex.
Unfortunately his warning was at least 50 years too late.
Wilson at the end of his term bemoaned what he had allowed, letting the bankers take ahold of our country through the federal reserve, which is not federal by the way.
Instead of relying on pundits, it is time for americans to start doing their own critical thinking.
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mark-stevens1 year, 5 months ago
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I saw a retired CIA operative on late night news... 20 years Middle East assignment. Al-queda for 20 years has been working towards $300 a barrel. A bullet to the head of the American economy.
The oil companies profit is at 7%. Whats your credit card or bank loan interest??
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JohnQPublicComment removed: Retracted by user6 Replies
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2FatCMe1 year, 5 months ago
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As a country, we need to do two things to end our dependency on foreign oil:
1) Refuse to purchase any new car that runs on gasoline (the automakers would come up with alternatives in a hurry)
2) Refuse to purchase any new home that does not utilize solar, wind, hydroelectric, or geothermal power (especially solar in the south and west)
Just imagine driving your electric car to and from work, then plugging it in each night to be recharged by the energy produced by the sun!
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nostalgia1 year, 5 months ago
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Great goals but are they realistic?
How many middle class Americans can even afford a hybrid vehicle?
Have you looked at the price of installing solar, geothermal or even a windmill?
There is a new development north of us that uses all solar and geothermal in the homes
The prices of the homes are out of reach of the vast majority of buyers and the homes are not large by any stretch of the imagination
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JohnQPublicComment removed: Retracted by user4 Replies
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Natureboy1 year, 5 months ago
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"How many middle class Americans can even afford a hybrid vehicle?"
OK, I am guessing that by "middle class" you mean either lower class or working class, since middle class americans can easily afford a hybrid car.
But beyond that, if you can't afford a hybrid, buy an old Benz diesel, preferably a 300D of the 123 series, which gets 30 mpg on diesel, or better, a diesel rabbit, which easily gets 50 mpg, and whichever you get, run 'em on biodiesel. Done!
If conventional solar is beyond your financial grasp, you can hustle some scrap lumber, discarded window frames and some soda cans and build yourself a functioning thermosiphon to help heat your home with solar. You can take a discarded water heater, insulate it in an old chest freezer, top it with plexiglass or similar and make a solar water heater.
Solutions, like excuses, are abundant.
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nostalgia1 year, 5 months ago
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Actually I'm talking about the middle class that is having a difficult time paying for gas and food
The middle class who have their credit cards charged to the max
Personally, I only use one tank of gas every 3-4 weeks so this isn't really having a great impact on me
My husband drives more but he has a smaller car and often just works from home
No excuses from me Natureboy. It is the middle class who were struggling before the gas and food prices skyrocketed that I feel sorry for
How long do you think it will be before this entire economy goes in the tank with these costs
So far this year ~100 trucking companies per week have gone out of business. Airlines will soon be laying off
It's not going to be pretty
Yet Congress held their third hearing in 19 months with the oil executives. 19 months and still no action from Congress except corn/ethanol and a bill to try and apply US antitrust laws to OPEC
What a bunch of idiots!
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Natureboy1 year, 5 months ago
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Here's the thing, nostalgia - we have been conned into thinking that most of us are middle class - it ain't so. The "middle class," that class of independent small merchants, doctors and lawyers who constitute a separate strata between wage-earners and the ruling class, are few indeed. The rest of us, well, if we've got a car, a house and a boat, that puts us in the upper strata of the lower class. That's all.
It's the lower class that's hurting, but nobody wants to couch it in those terms because it doesn't feel good to do so. But it is what it is.
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nostalgia1 year, 5 months ago
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So a driver of an 18 wheeler working for UPS or FedEx and making over $100,000/year is "lower class"?
BUT an attorney or small town doctor making $75,000 are middle class by your definition?
I also know many engineers who are making well into the 6 figures - where are they in your class structure?
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Natureboy1 year, 5 months ago
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Class status is a product of family status (as in "did daddy go to Yale") plus education plus income.
Yes, I would rate an engineer making six figures as middle class. I don't know any "small town doctors" making less than six figures.
I would venture everyone mentioned in your scenario can afford a Prius.
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quackpot1 year, 5 months ago
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nostalgia1 year, 5 months ago
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Take a look at these graphs on world oil consumption
It's fairly obvious why there is a problem and why it isn't going to get better any time soon without a dramatic increase in supply
http://wolf.readinglitho.co.uk/mainpages/consum...
Congress just voted again last week against any new drilling
BUT there is another hearing today in Congress with executives from the oil industry
Another show hearing and Congress will pretend they are doing something
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JohnQPublicComment removed: Retracted by user6 Replies
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quackpot1 year, 5 months ago
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nostalgia1 year, 5 months ago
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And what has happened to demand in Asia the last 4 years??
You haven't seen anything yet
Wait until the company in India starts full production of the Tata Nano
With a price of ~$2,500 the demand for the car in Asia will be unbelievable
Tata plans to make 250,00 initially and expects to sell 1 million annually
Even at 50 mpg that is going to create a huge new demand for oil
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quackpot1 year, 5 months ago
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HELLOOOOOO......It is YOUR chart that show the increase in demand. China's demand is increasing at the rate of about 7% a year, India less.
There is no doubt that IN THE FUTURE, America will need to be more wise with our use on energy, but that DOES NOT explain the post 2004 increase in oil price.
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nostalgia1 year, 5 months ago
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Quackpot
Frankly there is combination of events which has created the perfect storm
The commidities traders are a large part of the problem
But this was almost predicted several years ago and no one paid much attention
Here is one perspective from 2004
State of the World 2005 Global Security Brief #1: Oil Price Surge Threatens Economic Stability and National Security
Pne of the central issues facing policy makers in Washington and around the globe in 2005 is the prospect of further instability in world oil markets. This new reality carries economic and security risks. Another oil shock could tip the world economy into a premature recession, while the massive flow of oil revenues into the Persian Gulf and Russia threatens to derail economic reforms and foment political unrest.
For the first time in more than 2 decades, there is virtually no spare oil production capacity leftâ;;with far-reaching implications for national security, economic stability, and our pocketbooks
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nostalgia1 year, 5 months ago
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Oil production is falling in 33 of the world's 48 largest oil producing countries, including 6 of the 11 members of OPEC
In the continental United States, oil production peaked at 8 million barrels per day in 1970, and has fallen to just 2.9 million barrels per day in 2004
A growing number of geologists question whether remaining oil reserves are sufficient to keep production going up much longer. For the past three decades, they argue, oil companies have not been finding as much oil as they have been extractingâ;;a gap that has widened in the past ten years.
The oil industry is hitting the wall at a bad time for the world economy. Demand is surging in developing countriesâ;;particularly in China and India
You can find these reports easily
The problem - no on was paying attention or wrote them off as improbable
Many of these reports were right on target
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jimdoze1 year, 5 months ago
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People were paying attention. The daily flow of huge amounts of oil out of the ME is essential to maintaining worldwide economic stability... worldwide economic stablility is essential to maintaining world peace... which is THE primary reason we have our boots on the ground in Iraq. Sadly, to far too many in this country that simple logic seems counter-intuitive.
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JohnQPublicComment removed: Retracted by user6 Replies
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Origin1 year, 5 months ago
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The Energy Markets are out of wack because of the Enron Loophole.
An advisor to McCain, named Grahm, is to blame.
Its time you stupid ass lazy americans who play partisan BS on here wake up and realize that Oil Speculators have raised the price of oil $2 a gallon.
These are the same people involved with Enron and Cheney, that caused the California Energy Crisis years ago, with the rolling blackouts and price gouging.
Support any effort to roll back the enron loophole.
otherwise it will be $5 a gallon by winter.
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JohnQPublicComment removed: Retracted by user5 Replies
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Leemck021 year, 5 months ago
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Origin, I looked a little more since your comment. I am offended that we have elected officials accused of ripping the public so blatantly and no more is said in the media. Why do I want to hear about Reverend Wright or Paris Hilton when Cheney, Senator Gramm 'now working in the McCain background' and his wife were involved in this Enron loophole; formerly the California energy rip off. I would like to know if this is true or not. The Farm Bill, today, goes against the lobbyist interest known as the Enron loophole. If McCain is, as we speak, is fighting to stop the Farm Bill, on Gramm's advice, an it is an effort to uphold the special interest on energy then we have a problem. I really would like to see the debates cover this sort of issue. We really would be voting to do ourselves in if this is true. Who knows more about this? I try to keep up but this is new to me. Again, thanks.
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vor1 year, 5 months ago
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You will when the dollar is worthless. They aren't loaning us the money to fight these wars out of the goodness of their hearts. They know exactly what they are doing.
A terribly dim witted comment, worst I have seen today and that's really saying something. Your like Alfred E. Newman, "What?, Me Worry!" Do some research, obviously you haven't, you won't like what you find. They are laughing at our stupidity as I type this.
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MeanMotherUSA1 year, 5 months ago
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YOU AREN'T THINKING: Deport 20 Millions Illegals Mexicanos Out Of Los Angelese Sleazy Mexifornia Not Only Will They Stop Building ( On Foreclosed House Lots) 100's Apartment Complexs To House Them...
You We Won't Be Paying $4.00 Gallon For Corn Fed Cheap 81 Octane Gasolina...
LOs Angelese Sleazy County You Us Taxpayers (You Are Included) Won't Be Paying (AGAIN 2008) $$ FREE Welfare,Medical,Food Stamps Year 2007=
{{{{{ $444 MILLIONS }}}}}
Los Angelese Sleazy City Taxpayers Paid Out On To Control 765 Illegals Gangs (Est 185,000 Illegals Mexicanos Gang Bangers)Paid Year 2007=
{{{{{{{ $100 Millions }}}}
That Doesn't Include Cost $$$ Of GRAFFITI In Millions...
Nor Will You Beer Drinkers Be paying $19.50 For 12 Pak Budweiser Sales Exc TAXES
MeanMotherUSA
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crite401 year, 5 months ago
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Have any of you guys ever actually tried solar power?
Like here there's a lot more talk than do!
I live in a house built entirely of farmed Pinus Radiata with aluminium (yes we spell it that way!) cladding. It has solar water heating which produces over 70% of its hot water with a small timed heater for cold periods. The lighting using high efficiency lamps is solar powered year round.
The house itself has a covered porch on the north side which generates enough solar heat to warm the whole house on many winter days.
It's water supply for the laundry and toilet flushing comes from rainwater tanks with solar powered boat pumps and for those in Texas who perhaps haven't heard of them, the air conditioning is done with a Heat Pump whose outside unit is placed to be in shade in summer and full sun in winter. This uses only 30% of the electric power thet a conventional heater would do.
Total cost of all the alternative power and air conditioning?
$9,000 NZ ~$6,500 US. Not that dear!
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BB641 year, 5 months ago
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This story is a load. Here's a few things the article forgets to mention. First, Iraq prior to the invasion didn't export much oil. Only oil for palaces, mean food. The main reason for the high prices are the markets. In the last 10 years you have 2 new markets, India and China. Imagine being the guys selling the USA and the EU. Now you have literally doubled you customer base but you only have so much oil. You're in the driver's seat. Food costs? Stop making ethanol. It takes 5 gallons of fossil fuel to make 1 gallon of ethanol. Add to that the huge subsidies farmers are getting for corn and it only reduces other crops. You can't use pipelines to transport ethanol, it can only be trucked. It's a terrible product, over priced and burns less efficiently than regular gas. Did I mention it actually increases the carbon footprint too.
You want cheaper gas, refine your gas from coal. It can be done for under $ 40.00 a barrel.
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JohnQPublicComment removed: Retracted by user2 Replies
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TrueProgressive1 year, 5 months ago
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I hate to admit it, but I agree with BB on the corn ethanol issue. The more I learn, the more I see that not only does ethanol production leave us with a net energy loss, but it's also playing havoc with world food costs, and stimulating devastating deforestation around the world. Not to mention the enormous subsidies agribusiness is getting to grow corn and other fuel crops.
Where BB and I part ways is what to do about high petroleum costs. The article is dead on that it's Bush's wars that have precipitated these costs. The markets are accounting for the enormous uncertainty Bush and the neo-cons have created in the world by speculating in oil futures. Call it Bush's war tax, except that the revenues are going to his oil cronies not the government. Everytime I'm gouged at the pump I whisper a little, "Thank you George Bush."
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TrueProgressive1 year, 5 months ago
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[continuing] What to do about it, I favor immediate enactment of stringent CAFE standards to take place immediately. The technology for much better fuel efficiency is in place. [If Toyota can do it, so can all the others.] The automakers just need to be forced to produce fuel efficient cars. I also favor very heavy gas guzzler taxes. You want to drive an energy hog [read that Hummer, American SUV's, large P/U's] you pay for it, through the nose. These steps may not be enough to sufficiently wean us from petrol, but it may be a good start.
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Leemck021 year, 5 months ago
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I got some good answers to my questions, let me try again. Can oil be sold without going on the world market? What, other than the capital investment to make mini-refineries, stops a state or the nation from making oil for national or state use? I am aware the possibility of others doing the same but I want to know. Secondly, the onshore drilling issue is heating up, using U.S. reserves that is; if more oil is pumped here, who gets rich? What is the real point of conflict?
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