I just always find it interesting the veracity with which a lot of people who have to work hard for their money defend the right of companies to become filthy rich is all.

I denfend their right to become “filthy rich” as you put it because that’s what keeps people employed. If they’re not making money, they can’t afford to employ people and the economy gets worse.

Jim C

http://www.freerepublic.com/focus/f-news/2056847/posts

There you go Skippy.

When it falls I don’t want to stop the process to recover our own “earl” offshore and on land from shale, etc. I’d rather pay our own greedy capitalist oil companies instead of that bullet-headed dude from Venezuela, old beady-eyes and that hook-nosed consortium from the Gulf States….

Our money will stay in house if we do. My fear is if the commodity drops in price common folks may forget about this recent spike like they have about 9-11. I say it’s a national security and collective, national mental health issue that we use our own energy resources!

b2

superannuated though he may be

Why you are just an old fart, ain’t ya?

Old Age and Treachery will always overcome Youth and Skill, though.

Carry on, Grandfather Lex. Keep that cane handy. Have a nice day.

Subsunk

“Peak oil” as a theory has been around, in one form or another, since the first oil crisis of 1973. I remember well, as a kid in school, watching documentaries about alternative energies, with bearded, wizened experts proclaiming in solemn tones that we would surely exhaust world reserves of recoverable oil by 1990, or the year 2000 at the latest. Oil will not last forever, at least, not super-cheap easily recoverable oil, but as the price goes up, new sources become economically viable at the higher price, and the pool of recoverable reserves increases. If we had a sane energy policy, we could be recovering oil from all kinds of sources that could substantially increase the world’s total proven reserves, and achieve a new steady state price for several decades, probably somewhere around the $60 dollar a barrel level. The idea that we are on a tipping point, that supply will irrevocably decline and prices spiral ever higher, is based largely on rumor, innuendo, and unfounded pessimism. It fails to take into account the ingenuity and innovation that tends to confound “experts” and make a lie of their expansive “theories.”

The price has spiked largely due to psychological reasons, and due to an oversensitivity of world markets towards US energy policy. Even hints toward a change in that policy have driven the price downwards, dramatically. I paid $1.87 a gallon for gas in Corpus Christi, TX, on November 27, 2005. Demand has not so suddenly exploded over the last 3 years, nor supply shrunk, to drive the price to its present levels – it is inane energy policy, and the bleating of doomsayers that play into speculator’s ability to drive the price ever higher.

I remain unclear as to how exactly confiscatory gov’t taxation policies would rectify that.