It should be a two pronged approach to succeed. Conservation and development of alternative energy sources. We are behind the eight ball in both cases in the United States. Inconsiderate drivers make driving around a huge waste of gas. Traffic jams caused by too many vehicles on the road and a huge number of them gas guzzlers. I think a $0.50 gasoline tax to be used to fund alternative energy sources will go a long way to reducing the United States oil dependence but, do we Americans have the politicial will to do so is the question??? The Athabasca Oil Sands in Alberta, Canada is already being developed by Shell, Western Oil Sands, and Chevron Texaco. There are smaller oil companies involved but, the 3 are the major partners. When they are able to ramp up production and build that pipeline into the United States----that is bound to help enormously cut our dependence on Middle East oil but, we still have to conserve and develop alternative sources of energy if we want to pay less, pollute less and have a better quality of life. Don't think we Americans have the political will to do what is in our bests interests as a number of us whine and cry over high gas prices yet, continue to drive those big trucks, SUVs, etc. that use a lot of gas. Add to that the looky loos who stop and stare at every accident and we waste millions of gallons of gas every single day!!! They don't care that hundreds of cars are behind them idling and wasting millions of gallons of gas!!! I bet you a number of the looky loos are among the biggest whiners around!!!
outstanding comment.... we have the one leg up, that's the conservation issues and discussion that's in everyones current vocabulary.... now we need to use that American ingenuity and bring up the competitive leg and challenge this Oil Administration.....
thanks for participating and sharing your thoughts... perhaps you could find a website reference and post that article and / or link here in this thread. also, part of the agenda of this Oil Administration is to pacify the American people to draw that conclusion, that's it is just incrementally more expensive instead of an afront on our liberties and way of life and a complete abandonment of responsibility to the citizenry of the US by those in positions of authority (both political and corporate).
How about we shut down Enron - I mean NYMEX. Were I the boss in DC, I'd have ordered the CFTC and all other oversight agencies to crush that blemish years ago -- really crush it. Make getting hold of oil and derivatives of any kind on it as hard as obtaining a machine gun. Nearly unattainable. I can't believe a strategic commodity is left to bob up and down on the whims of the global speculative financial community. American citizens and industry needs this product and so do American soldiers. Does this sound funny? Wait until we get a crash or revelations of misconduct and see the calls for action then. To me it's nothing more than ordering a crackdown on the mob. Let them trade corn or index futures - not a strategic commodity that costs lives to protect. I'm done. Fire away at me! Geo. Looking for a piece V. Niederhoffer wrote years ago after a crash defending speculators. When I find it, I'll be back to attack him too.
you guys dont know how lucky you have it with your fuel prices! here in the uk we pay around £0.90p a litre 90p x 1.75 exchange rate x 3.78 litres in a US gallon = $5.96 a gallon equivalent we pay over here for petrol at todays rates!
not a matter of luck and the notion that we should ever have prices like exist in other countries is just what this Oil Administration continues to count upon to keep this gouging going. these levels are immoral and artificial and should not continue to be supported. become and illegal alien in the US and enjoy our lower prices, until they catch up and surpass yours, come visit legally on vacation and enjoy our prices.,,, either way they are 2x higher than where they were before these guys came in office.... so, how many persons have been run over by these prices? 101%
I assume the previous poster was being sarcastic about shutting down the NYMEX. In reality, it is very important---not the short term futures which gyrate---but the long term ones. These can help an alternative energy company get real serious financing and actually do something about this mongolian clusterfcuk we're getting ourself into. A banker who loans them money or venture capitalist wants to see $60/bbl *long term* (5 years out +) oil prices pm the futures before putting down the cash. (I.e. the company can easily hedge against falling prices). This is starting to happen. Before 2001/2002, the long term (5yr+) future price was virtually a flat line at $20 between oh 1983 to 2001. It's now gone parabolic and is at $60. The differences between oil price rises and the real estate bubble: 1) commercials who actually run the numbers haven't gone insane with the real estate bubble 2) real estate bubble transfers wealth from dumber Americans to smarter Americans. 3) Oil price rises immediately hurt essential commerce. You may spend only $100 more per month on gasoline and think that's insignificant, but there are people and firms responsible for lots of economic activity who can get slammed by oil prices. 4) Oil price rises transfers wealth from Americans to people overseas who want to kill us.
Monday, April 17, 2006 Dow declines on oil crossing $70 barrel in mid day trading Oil Administration - 1 US Consumer -2
It seems this thread has accurately defined the problem of high oil prices and it's negative effects. But I've yet to hear a solution on any of this. Here's 2 possible solutions: 1. price of oil goes up causing a lot of strife and eventually the world goes into chaos and crawls out the other side better for the experience. 2. we could overthrow the government and establish a benevolent dictatorship to fix it before we reach the pain of #1. I'm open to any other ideas that have a realistic chance of occurring. #2 would realistically work, it's just the overthrow the government part that would be hard.
the thesis of the thread was to recommend building more oil refineries on a state by state basis,,,,, where your suggestions come from astounds any rational reader of this thread simply put, start another thread with your suggestions and thesis..... this is an economic and economic only discussion, nothing more.... incidently, say that there were 4 or 5 states of the 50, that fast tracked building at least two new small to medium refineries each, then: a) excuses that the Gulf States bear this burden for the country would disappear b) regional distribution and the significant markup in "at the pump" premium would begin to disappear, thus bringing more normalized prices to vast numbers with those states and surrounding states capable of crossing state lines c) excuses over fuel additives causing $70 per barrel oil spikes and Ethanol switch over from winter to summer blends would begin to dissapate. d) there are vast other residual benefits including those states financial budgets being moderated as they would control or significantly influence their own state fleet fuel needs and pricing / procurement costs ------- that is what was being recommended that is what is continued to be recommended with this thread.....