Oil prices: basically, we're stuck

Oops. I forgot to actually make a point. My point is that he had no problem blaming Bush for high gas prices before he took office. If I ran the GOP, I'd be broadcasting speeches and quotes like the above all the way through the election cycle.
 
I am reading the Prize right now. Excellent Book. I am going through the Churchill/Anglo-Persian/WWI chapter and am loving it.

Our recent political discussion of green energy and the hysterical shrieking against oil companies looks rather idiotic when you view petroleum's role in driving so many aspects of our economic development and modern life.

It is easy to argue that Modern Finance and Big Oil have done more to lift nations out of poverty and alleviate suffering than any liberal focus group or NGO could dream of achieving.
 
DFWAg,

They look foolish on so many levels when it comes to energy. They ought to be embarrassed. Algae was brought up and everyone knows this is just something they throw out there to give hope to the Jim Jones cult type following they have.

It would take a lot more oil to gather and produce a small amount of energy from Algae. Yes eventually what is produced from algae could produce algae. The problem is it would take more algae to gather and produce than what the results would be.
 
Nobody wants to change the way they live to adjust to this ongoing problem. Thirty years ago I blew off getting a place on the island and bought a house five minutes from work and three minutes from an HEB. Every car I've bought in the last twenty years has got better gas mileage than the one before.

I replaced all my windows with the double pane ones and replaced the ac system with one that is much more energy efficient. I drive less by combining trips.

I don't see many people doing any of those things. People persist in going to the store for food every day and driving all over the place.

My town is overrun with college kids who have come for the beaches because they have a few days off. I should say the anglo and hispanic kids. The Koreans and Chinese and Indians are all in the libraries.

We have a hedonistic culture that thinks one day ahead and whines like a spoiled child with anything that interrupts its cycle of fun.

And politicians who cater to them. All of them do it. The only difference is the nature of the catering. Drill, baby, drill? We are doing that. The rig count is the highest in memory.

And everybody is still looking to the government mommy to solve their "problems." If you can't afford the gas, drive less, you *******.
 
it's okay with some of us if more people move to the metroplex because a very few select smart people like me have started car-pooling to work. The HOV lane on Hwy 75 going north in the afternoon is a near-heavenly experience.

We still have to slow down and crawl once we merge with regular traffic at the edge of McKinney, but once construction ends we will fly through the 121 75 interchange. (hopefully just three more months)

In less than three more years, we will have 4 regular lanes of 75, and 3 frontage road lanes going each way.
 
Monahorns: depends on how you define the situation. I am in favor of more drilling and less consumption because I think the alternatives are of limited use and a ways off. The immediate hubbub is about the price going up. More drilling here is not going to have much effect on that because the reasons for the surge are not closely related to less drilling here.

The immediate political situation is that the whiney public is looking to DC to solve the problem. I think the best way to address it is to use less yourself. Some folks, like NEWDOC, can't do that. Neither can farmers and ranchers as a general rule.

My sister was complaining about it the other day. I pointed out that she drives to CC twice a week when once would do and that she drives into her little town from her place in the brush almost daily when there is no need to do so. She needs to either sit on the farm and listen to the grass grow or drive to town and shut up about how much it costs her to go there and drink coffee with her buds. And sit around whining about gas prices.
 
Oil is trending down again, due in large part to decreased demand. Not what you want to hear going into the unofficial kickoff to summer. The world economy, China included, is slowing, as is ours. Then you'll have Israel attack Iran and all hell will break loose on the world oil markets. Hold on to your hats, we're in for a bumpy ride.
 
People always seem to forget- price is determined by TWO things, supply and demand.

We can reduce demand by 5% much easier than we can increase it 5%. Or we can do both. But it's dumb to ignore the entire other half of the equation that makes price.
 
btw, Herb Kelleher (co-founder of Southwest Airlines) had an excellent op-ed in the Houston Chronicle a week ago, titled "The oil boom and the myth of energy independence"
The Link

A major point that he makes is that while the domestic oil boom is a nice thing, global demand has a bigger effect on the price of oil (which is a global commodity) than the amount of oil production in the US.

In reply to:
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The dollar is about 10% stronger against the Euro than it was one year ago. The price of oil is down about 10% from where it was a year ago. Just sayin -- our fiscal policy is a contributor to this issue as well.
 
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