goldenhinde

$200 Oil Is Coming While We Waste a Perfectly Good Crisis (Part 3)

James: I appreciate the thoughtful research and I do not doubt that one day we will get there. That day will come sooner if inflation does roar its ugly head and slower if the dollar ascends the magical staircase of relative value. One thing that I don't see accounted for is Iraq. Iraq produces 2.3 MB/day now and wants to move that up to 6MB/day within three years. The US government is of course subsidizing that effort and the majors are ALREADY putting the resources in place to make that goal a reality. That will have Iraq be one of the largest producers in the world and they have proven reserves of 44 Billon barrels which will hold us up for a while.

I agree with you entirely that without being self sufficient in energy we are screwing ourselves and the future of this country. However, if Iraq comes on line it can replace a lot of what is otherwise drying up and can do it for years to come. This certainly moves the time of $200/barrel oil further out than what might otherwise be expected.

If we were smart, and yes, that is a big if, we wouldn't wait to get ourselves independent. Being a market based economy however, we are likely to stick to our philosophy and walk the tight rope into our own demise. My R friends will blame Obama. My D friends will blame big oil and they'll both be right/wrong.

We don't appear to accept the notion in this country of long range planning. Long range appears to be anything beyond the next mid term or Presidential election. Engage in such planning and the clowns blame government interference in the markets as the basis for why it should not proceed.

It is stunning for its stupidity - it doesn't matter what you call it. The more dependent we allow ourselves to be on others - the more we deserve the pain we create for ourselves.

Forest Gump knew better: "Stupid is as stupid does".

Drilling in ANWR: What's Not to Like?

What is the purpose of increasing the supply of that which someone is addicted to? It doesn't help eliminate the addiction.

Avoiding the pain of the transition to the post-hydrocarbon future is silly at best and absurd at worst. Transitions are painful - mostly because those who are asleep are very disturbed by the nature of change.

Oil and hydrocarbons are not cheap. That is absurd. They appear cheap because under our current economic system one does not have to account for cleaning up the environmental mess one makes. That cost goes on the taxpayers or the next generation's balance sheet. Aside from the morality of it (or lack thereof) it is fundamentally a condition of no integrity.

If you build an economic model which distorts or fails to account for reality (cleaning up the mess one makes) they you will get what you deserve. HINT: It ain't pretty.

ANWR: Sure, why not. It may help a little but helping a little will be of marginal utility. It is more like helping a very little.

Change behavior. There you go. You have to wonder. While SUV purchases are down by 25% - THAT MEANS THAT THEY ARE STILL AT 75% of normal. Now, that blows my mind.

American innovation is the only "thing" that has the real possibility of saving us. It is what we are best at and something the rest of the world cannot duplicate.

All economic and tax activity in this country shoudl be structured to stimulate, support and sustain innovation.

If you want to "sit this out" with your money in cash - big taxes.

Citizens have an obligation to the country and to the next generation. Too bad if you don't like paying for it. Sacrifice means you.- that's right - YOU!