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Michael Fitzsimmons
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I focus on investments in the oil & gas sector with an eye for dividend income and long-term capital appreciation. I typically allocate a portion of my own portfolio and devote some of my Seeking Alpha articles to small and medium sized companies offering compelling risk/reward propositions.... More
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  • Fed Chairman Bernanke and Energy Secretary Chu - Lost in the Woods w/o a Compass 0 comments
    Mar 1, 2011 2:49 PM
    DId anyone watch the Bernanke testimony today when the Senator asked "do we need a comprehensive national energy policy" to reduce foreign oil imports. Bernanke looked completely lost and stared into space. It was if he had never even thought about the question before. But of course, he had to answer coyly - to satisfy the folks that lobby him (i.e. big oil, coal, railroads, military) and yet i suppose he is shamed into at least acknowledging current world events. So he says, yeah, you know, it might be a good idea to protect us from geopolitical events. NOT to reduce the $1 billion a day leaving the country. NOT to revive the economy. it's as if Bernanke has no clue as to why he has to print so many trillions of dollars out of thin air (i.e. to "buy" foreign oil).

    Meantime, Energy Secretary Chu continues to be the most incompetent energy secretary ever. Anyone heard a word out of our physicist since the Middle East crisis started? Has anyone yet heard Chu acknowledge the important role nat gas transportation could play to reduce foreign oil imports? Chu should be fired. Bernanke should lost his job when we shut down the un-Constitutional Federal Reserve and transition back to Constitutional money (gold & silver).
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