The relatively small puddle of oil won't solve the oil issue.
The availability of crude is not what is driving the price of oil.
Interesting reading if you aren't awa
http://www.businessweek.com/bwdaily/...513_272469.htm

Let's get the speculators playing on a level field. Let's get
serious about alternative energy sources. Let's get the oil and
other lobbyists out of DC.
--
______________________________
Keep the whole world singing . . . .
DanG (remove the sevens)




"Joelberg" wrote in message
...
I'm sure many of you travel a lot for your home repairs, and
that
means paying through the nose for gas. Former speaker Newt
Gingrich
has a petition going on called "Drill Here. Drill Now. Pay
Less." His
goal is 3 million votes and he has 1.2 million so far. Don't
know
about you guys, but I think it's beyond ridiculous that we are
the
ONLY nation that doesn't pursue it's resources, while other
countries
are independent, or are becoming so.

Here's the link:

http://www.americansolutions.com/act...b-346a1e096659

We have been raped by Saudi Arabia & OPEC countries for long
enough,
yet Congress continues to chase it's tail and make excuses. We
have
enough resources that surpass the entire Middle East, but red
tape
gets in the way all the time. Even Clinton refused to drill in
1995....which would have helped us now if he didn't say no.

Enough babbling, if you feel the same way I do, please sign the
petition and pass the word quickly!

-Joel

DanG wrote:

The relatively small puddle of oil won't solve the oil issue.
The availability of crude is not what is driving the price of oil.
Interesting reading if you aren't awa\

Hmmm, interesting seem to have heard that same argument 10-15 years ago.
Can't we just clam any oil found offshore is ours and can only be sold in
this country? Ohh I forgot we dont have any refineries. Lets just do what
we've been doing for the last 30 years, sit on our ass and hope the problem
goes away.


http://www.businessweek.com/bwdaily/...513_272469.htm

Let's get the speculators playing on a level field. Let's get
serious about alternative energy sources. Let's get the oil and
other lobbyists out of DC.
sounds good but I'd start by getting the politicians out of Washington to.

--
"You can lead them to LINUX
but you can't make them THINK"
Running Mandriva release 2008.0 free-i586 using KDE on i586

evodawg wrote:
DanG wrote:

The relatively small puddle of oil won't solve the oil issue.
The availability of crude is not what is driving the price of oil.
Interesting reading if you aren't awa\

Hmmm, interesting seem to have heard that same argument 10-15 years
ago. Can't we just clam any oil found offshore is ours and can only
be sold in this country? Ohh I forgot we dont have any refineries.
Lets just do what we've been doing for the last 30 years, sit on our
ass and hope the problem goes away.

Not really. Oil is fungible. Domestic oil used only in the U.S. is oil that
is not bought on the world market. World demand goes down and the price
follows. Soon it will be cheaper to buy oil at the world price than buy
domestic oil. It all works together.


Let's get the speculators playing on a level field. Let's get
serious about alternative energy sources. Let's get the oil and
other lobbyists out of DC.
sounds good but I'd start by getting the politicians out of
Washington to.

"Speculation" is merely insurance. It is a fundamental rule of business that
you always trade an existing variable price for a fixed one whenever
possible. This allows planning and prevents catastrophic surprises.
"Speculation" is nothing more that the market's decisions on future prices.

Some have been serious about alternative energy sources for many, many
years. In spite of heroic and concentrated efforts, nothing has come CLOSE
to oil in terms of cost and availability.

Lobbyists are the experts. Consider laws on campaign finance reform, done by
the political experts themselves. Do you really want these idiots setting
the tariffs on imported Yak Fat with no input from the World Yak Breeders
Association?

In article ,
"HeyBub" wrote:

"Speculation" is merely insurance. It is a fundamental rule of business that
you always trade an existing variable price for a fixed one whenever
possible. This allows planning and prevents catastrophic surprises.
"Speculation" is nothing more that the market's decisions on future prices.

But pure market decisions are not really at play here. The really low
margin levels in the oil future pit act as a subsidy when compared with
other investment vehicles (IIRC around 10% margin for oil as compared to
around 1/2 for stocks). Also, with such a small %age of futures
contracts actually being exercised (around 10%), the pricing may be more
reflective of the market's decisions on future prices of the CONTRACTS
than the underlying commodity.