freefall51

Oil: The Inconvenient Truth

Did I not say global warming by CO2 is a hoax? Anybody with the foggiest idea about statistical concepts would agree. The idea of statistical relevance is to compare a body of data (such as temperatures) subject to random fluctuations with another body of data of the same sort subject to random fluctuations, where just one parameter such as the CO2 concentration has changed. The conclusion the climatologists should be after is to say the one pile of data is different from the other one because of the increase of CO2 traces in the atmosphere. Take Salt Lake as an example where the temperature swing is -20 F/ 110 F in the extremes. Given those swings, how can anyone possibly prove a creeping average temperature increase of a minute fraction of a degree F year over year and relate it to an increase of a couple of ppm CO2 in the atmosphere with a reasonable confidence? Aint gonna happen, buddy. I challenge everybody to try that from a daily temperature histogram. If there was a case it could be statistically proven, but it cant. So the experts are taking refuge to complex models that sound important to impress the public. This is childish at best, self serving at worst.

Houston to Obama: Smell the Oil

RIG is doing most of their business in foreign parts of the world, where they pay a chunk of their taxes. They still pay $ 700+ M taxes per year in the US. It could be more if the leading political minds in the US were not dumb enough to keep this fabulous company out of their country.

In the meantime I hope for the sake of my retirement account, that if the windfall tax materializes, RIG will move their headquarters from Houston to the tax heavens of the Caymans in a heartbeat, where they already have an office.

Sometimes it is better to be happy with what you got and not getting greedy. That freaking little former city organizer that promotes the wind fall tax on oil companies must be out of his mind.

Why I'm Not Buying Oil's Recent 'Correction'

The demography of the world runs against theme of the blog. Somebody elsewhere suggested that if China and India had the same per person consumption of oil like the Americans, the known oil reserves would last less than a year. Now that is scary.

I am not impressed by short term corrections.

In Light of Peak Oil, Financial Diversification Is a Bad Idea

mike fitz,

I am just curious about your picture. What peak are you on?