Michael Fitzsimmons

Smells Good: The Case for Natural Gas

The 50% devaluation of the US dollar is just in the last 8 years, most of the damage done when rep held both houses of Congress and of course our illustrious presidency. Here's a chart of just the last 2 years:

quotes.ino.com/chart/?...

If you want to talk about socialism, what do you think of an administration that backs the Federal Reserve taking over a publicly traded investment firm (Bear Stearns) with tax-payer money? That said, I have to admit I probably would prefer the socialism of say Sweden, Finland, and Canada to what we have in the US today: a raping of the US treasury by the uber-wealthy while the middle class (what's left of it...) struggles to buy gas, food, and pay their car and house notes. You point to history and if you have some historical perspective yourself, you must be aware that country's fall from power when the majority ("middle class") can't make ends meet. That is the track the US is on at present.

It's amazing to me the blindness virus that political ideology can cause people to conveniently ignore facts.

Age is not the biggest factor in determining intelligence. If experience and history were factors, what can one say about Bush's second term? Apparently he learned nothing from the disastrous first 4 years.

Smells Good: The Case for Natural Gas

sliman: that's a good question, but long term, i favor the stocks.
thinking/pedriven: i like APC and Petrohawk too!
paultaut: not familiar with PGH, sorry. i will have a look later today.
Pacha: while i agree that both parties are responsible for a lack of an energy policy, in the article i was referring to recent fiscal policies: the Bush administration's huge fiscal deficits (he inherited a surplus), the lack of oversight on the ratings agencies fraudulent AAA rating of sub-prime debt, the Federal Reserve cutting interest rates in the face of huge inflation (inflation numbers which are fraudulently massaged by our government), and the Fed taking over a private investment firm like Bear Stearns, are all factors in the greater than 50% (!) devaluation of the US dollar during Bush's 8 years. this of course, has a direct impact on the price of oil, it being priced the world over in US dollars. for a country that uses 25% of the world's oil and imports 60% of that, it's a disastrous policy. yet, still, we have no comprehensive nergy policy! as i have said before, the Bush administration's fiscal policies have caused the world's reserve currency to swith: from the US dollar, to a barrel of oil. it's a disaster. there is nothing "conservative" about the Bush administration - they are the most RADICAL government in the history of the US. our standard of living will never be the same IMHO.

Smells Good: The Case for Natural Gas

thanks for the comments.
elliot: i knew when i wrote the $700 billion comment that someone would point out the technically incorrect source of our imports. that said, my point was that oil is a global market and saudia arabia and russia are the two largest producers. the lack of a comprehensive US energy policy has led to huge inefficiencies, higher US oil consumption than necessary, and therefore higher prices - all of which have greatly benefited SA and russia. the falling dollar due to recent US fiscal policies have also played right into their hands.

i realize that LNG has not caught on in the US, which i alluded to in the article. the point i was trying to make is that "IF" the US had a comprehensive energy policy, we would be (or at least SHOULD be) encouraging the greater use of natural gas in the transportation sector, granting licenses to construct LNG plants, and be building the infrastructure for greater use of LNG sourced nat gas. the magnitude of the energy crisis facing the US due to crude oil is such that we will need ALL alternate sources of energy - natural gas is a "natural". that said, if congress's questioning of the oil execs the other day was any indication...i won't hold my breath for a sane energy policy any time soon....