Michael Fitzsimmons

Fishing for an Answer: Energy, Energy, Energy

welp sportsfans, i am back in the SA saddle, and again thank you for the comments. it's a two-way street for me, sooo:

psterling: thx for your comments. yup, we need a Manhattan project, but if you look at my energy policy, alot of it is just common sense and much easier than splitting the atom.

whisper: yup, i like the trusts too, and have a lil bit of Permian Basin Trust (PBT) and Hugoton Royalty Trust (HGT) in my IRA for the tax breaks on the dividends. i usually mention the majors because i get more readers that way. plus, i really do think COP is waaaay undervalued and i own it. regardless, what are your favorite canadian trusts? i keep forgetting to look into those.

johnS - nice pun (get cracking).

jjason: your response insinuates that the price of oil is all speculative in nature. i obviously disagree and feel we have hit a worldwide oil supply/demand balance that will be the dominant worldwide economic theme for decades to come.

purseley: you've been telling me everything i know about oil is wrong since it was what, $90/barrel? it's $145 now. your continued statements that oil is plentiful and in abundance is quite irrelevant considering the price of it, the fact that huge caterpillar trackers are digging up tar sands, and the oil majors are drilling through miles of deep water and then miles more of sand and shale to produce oil. seems like if i was as ignorant as you believe i am, the price of oil would be moving down, GM will still be building Hummers, and the S&P500 would be reaching new highs. yet, everything i said would happen has: oil is hitting new highs daily, the American economy and US dollar are tanking, and the S&P is selling off in a big way. yet, as you say, everything i know about oil is wrong. interesting. i keep waiting for you to be right...how long will it take?

shaggieman: i believe oil stocks are selling off to scare people out of them. it happened in early 2007, then they went on to make 35%. it happened in 2006 and also made over 30%. the market always does what it needs to to insure the fewest number of investors make money. i don't believe i am contradicting myself. you see, i am a patriot, a real patriot, and i care about the future of the US. oil is the biggest threat to the US. so, my energy policy deals with it head on. just because oil or gassed is taxed at a higher rate doesn't mean energy companies are gonna make oodles of net income. oil is indespensible to the US and world economy. it doesn't do ANY good at all to have a low capital gains tax rate if the tax/spend policies cause the US dollar to drop 7-8% per year, which is what has happened under Bush's idiotic financial policies. we have the US dollar falling, inflation rising, so the Republican's solution is to give Buffet, Gates, and the multi=millionaire hedge fund managers tax breaks and raise the Federal budget deficit?? this is basic economics 101 stupidity...and you are seeing the results in the falling value of the US dollar and US equity markets. i can't understand why Republicans don't figure out why this is weakening America in a big way. Oh, I forgot...for the upper 0.001% of richest Americans, it is working out great. they have their summer homes in Europe where the currency is strong....

User: i keep hearing how bad the Democrats will make things. Bush and the Republicans have a great record: a US dollar down over 50% since he took office, oil has gone up 8x, the economy is in a recession, the US treasury has been raped, the twin deficits are at record highs, and the size of the US government has grown to 30% of GDP, and we have two unconstitutional wars going on. how on earth could a monkey without a brain do any WORSE? oh, i forgot to mention that inflation is raging and the S&P is now negative in the 8 years that bush has been in office. if you take into account the US dollars drop and inflation, you have lost money in the "market" bigtime. nice job by "mr mba president". "republican" policy it has been a complete and utter disaster. i should know, i am a REAL republican - one that believes in financial discipline, balanced budgets, small government, and REAL freedom. this administration has delivered none of those.

fireball: i agree with much you have to say about government incompetence. on the other hand, i believe the energy crisis and challenges confronting the US are so large that the government will have to get involved. however, if you look at my energy policy, there is not alot of rocket science in there. pretty straight forward common sense stuff. i have no info on the subjects you inquired about.

ronmac: yup, there are some constants in the universe, and pursley's belief that oil is plentiful and cheap seems to be one of them :)