Baycitian

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  • How Bad Is the Oil Shock of 2008?
    While at a stop light today, I counted eight gas hogs and two compacts which passed. Five of those were on the phone, and only one had two people in the vehicles. We are using our crops to make a fuel alternative which accounts for only 3 per cent of the fuel used and the EPA turned down an expansion project for a major oil company today because it did not like the flare stack set-up. Try building a new refinery or even better building an atomic power plant. There are no quick fixes and we need to drill for oil in locations that have not allowed it before or they can go cook their food on a wood cook stove. We need a responsible energy policy which is fair and will work. Why don't we have that? Because politics, power & money dictate who gets what and the average American consumer is in the middle.

    Hang on to your gas cap, your money and savings are going to go for increased fuel, food and taxes. We are not the only Country who is needing energy, India (TaTa Motors) is introducting the $2,500 car for the people of India (henry ford of India) and in the meantime, China is coming on strong. "Why is it Toyota can build a great car int he U.S. and Ford is just now saying we are now equal to Toyota. Shame on us and our spoiled labor force. As a result, Companies are closing US plants and getting tax incentives to open ones overseas with cheaper labor. Will the last American Auto worker in Detroit, please turn out the lights.

    Unlike most Americans, I believe we can come back, but in the next few years it is going to take a new look at energy, food, and jobs in America to get us out of this mess. Face it, "its not a great time" Its time to get back to the basics and use some common sense. In the meantime, crude is going to $150.00 and gas will be $5.50 in Sept. Don't forget about the U.S. Hurrican Season on the Gulf Coast.

    Lastly, there is probably at least $25.00 bbl of the price based on Merc trading and hedges. Part of that is uncontrolled in London and Dubai. If you are an overseas producer and decide to make a bullish statement, what position would you take the day before the announcement?
    Jun 06 19:29 pm |Rating: 0 0 |Link to Comment |View article

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