Jimbo

Crude Oil: Bull or Bear?

I have concluded that government decision makers and their influential NGOs are keeping their foot on the oxygen line to domestic drilling in order to force the economy into alternative fuels. Unfortunately, the technical and logistical issues are pushing any meaningful alternative sources of energy far down the road, possibly decades down the road. In the meantime we export declining dollars to sources abroad , some of whom hate our guts. The net result is a debased currency, dependence on hostile sources, and an impaired economy. Way to go gang! Imagine that ANWAR is the size of a page in a newspaper. Due to new techniques of horizontal drilling, the platform needed to drill for and produce oil from ANWAR, would be the size of a mere period on that same newspaper page. I also understand there are close offshore areas in California that might produce oil in a matter of months. But Californians would rather rely on Pixie Dust for transportation fuel. The way this ends is not going to be pleasant..