oilsands

Wall Street Breakfast: Must-Know News

Buckoux, "when it serves Wash. DC or Wall St., it is just as dangerous as ..." right on. Glad to see so many who have not forgotten how we got into this crisis and crunch. The crunch will play out slowly as the dollars continues to sink and import prices rise. Decades ago Jamica woke up its population with a far reaching ban on imports. Brazil just stopped using oil.

Tinkering with our banking system ain't gonna do it.

Watch for Yourself: 60 Minutes Oil Story Was Spot On

1. The crash of the dollar has been a constant underpinning of this mess, and one that is rarely talked about. Certainly not in the our lapdog media.
2. The tremendous upswing of demand in the rest of the world escapes most Americans, who still believe everything revolves around us.
3. Congress allowed the ban on offshore drilling to expire; they didn't actually do anything. So how many acres have been leased sinced then? The agency responsible for leasing said it needs two years from now just to plan what to lease. How does the Bush Adminstration explain that?
4. There are no crews standing around with equipment ready to respond to "drill, baby,drill". We lack trained manpower, equipment, and capital to respond to that futile cry. What a cruel fraud that cry was.
5. America has reduced consumption of gasoline, probably permanently.
This is one of our best defenses. And way cheaper than the war in Iraq.
6. The Enron Amendment enabled the scoundrels to victimize the American public. Deregulation is not consonant with our national interest.