JKC1967

Peak Oil: While Washington Sleeps...

For anyone interested, John Maudlin had a very good piece on his site re: peak oil a couple of days ago. Makes for some scary reading:

www.investorsinsight.c...

Peak Oil: While Washington Sleeps...

Very nice article. I checked out your comprehensive plan referenced at the end of this piece, and I think it makes a great deal of sense. Essentially, it combines things Democrats might call for - alternative energy, higher fuel standards etc. - with things the Republicans push like drilling in ANWR and offshore (Note: Have read a number of pieces that state that its really stupid not to drill offshore due to environmental reasons, since the technology has advanced so dramatically). This idea of windfall profits taxes on the oil companies is just stupid, stupid, stupid, pure pandering. The fact of the matter is that no one in our political class has the courage to tell the American people the truth, i.e. that high oil and gas prices are hear to stay, and that we had best start looking for solutions. Instead, we have dumb, provincial morons like Iowa Senator Chuck Grassley who insists on continuing subsidies for corn-based ethanol while keeping punitive tariffs on the much more energy efficient sugar cane version of it from Brazil. This is what passes for an energy policy in the Washington, DC area, very depressing....

T. Boone Pickens Remains a Fervent Oil Bull

Brain Power in Use - Good write-up! People who believe that the oil companies are somehow at fault here are morons. Yes, they are benefiting, but who cares. The real factors involved in determining the price of oil have precious little to do with Exxon-Mobil or Chevron - its first and foremost, supply and demand (esp., big increases in demand), increasing control by state-owned oil companies and Governments, OPEC, plus overregulation domestically. None of this has anything to do with XOM, they are just the beneficiaries of trends beyond their control. Besides, did anyone want to help them when Oil was $10/barrel back in '98?! Of course not. Fact is, we are now in an age of resource scarcity, and Americans may some day look back at $3.75/gallon gas and think those were the days....