"trader_4" wrote in message
...
On Tuesday, March 8, 2016 at 10:49:48 PM UTC-5, rbowman wrote:
On 03/08/2016 09:59 AM, trader_4 wrote:
Damn right Reagan dismantled Jimmy Carter's excise profit tax on oil,
all the govt billions wasted on shale oil projects that didn't
produce one drop

You think the research and experience gained might have something to do
with the Bakken? Or does technology just fall out of the trees when it's
needed?

You're trying to make the claim. YOU make the case. Show us how
what Jimmy did had anything material to do with what's going on
today.

Are you *seriously* trying to claim that previous R&D didn't lead to
practical implementations later on?

That's devoid of common sense and if it were true, Reagan's SDI initiative
never gave us anything practical except as a public works job program. It
hasn't shot down one bloody enemy missile so far.

You're just spouting more ultra-partisan nonsense of the sort that's tearing
America in two at a very dangerous time in our history. No sale.

If you want to discuss a real issue, it's how the "strangle the government"
adherents have strangled Federally funded R&D in the US, previously the
engine that provided enormous help to US industries.

--
Bobby G.

On 04/13/2016 06:46 AM, trader_4 wrote:
After Reagan took of Jimmy's price controls
and other dopey regulation, oil dropped to $10 a barrel. Fracking isn't
profitable at $10, capiche?

The controls were put in place by Nixon and kept in place by Ford.
Ford's last official act was an attempt to deregulate, but he had no
traction with Congress. Carter started the process of deregulation that
was completed by Reagan.

https://mises.org/library/rethinking-carter

On Wednesday, April 13, 2016 at 9:59:58 AM UTC-4, rbowman wrote:
On 04/13/2016 06:46 AM, trader_4 wrote:
After Reagan took of Jimmy's price controls
and other dopey regulation, oil dropped to $10 a barrel. Fracking isn't
profitable at $10, capiche?

The controls were put in place by Nixon and kept in place by Ford.
Ford's last official act was an attempt to deregulate, but he had no
traction with Congress. Carter started the process of deregulation that
was completed by Reagan.

https://mises.org/library/rethinking-carter

Carter put into place the windfall profits tax on oil, that was
one of the other dopey regulations that I was referring to. When
you take money away from oil producers, it goes into the DC spending
orgy, instead of being left with oil producers so they can develop
more oil. And it leads to terrible market inefficiencies and
corruption. Marc Rich, who was on the FBIs most wanted list until
Bill Clinton pardoned him on his last day in office, made part of
his fortune thanks to Jimmy. Seems Rich figured out a process whereby
you take old oil that's subject to Jimmy's tax, pump it around through
various pipelines, a tank farm or two and voila!, it became new oil,
not subject to the tax. He was the biggest tax cheat in US history,
never brought to trial.

On 04/13/2016 08:57 AM, trader_4 wrote:
Carter put into place the windfall profits tax on oil, that was
one of the other dopey regulations that I was referring to. When
you take money away from oil producers, it goes into the DC spending
orgy, instead of being left with oil producers so they can develop
more oil.

Evasion on the primary responsibility for the wage and price controls
noted.

On Wednesday, April 13, 2016 at 10:37:48 PM UTC-4, rbowman wrote:
On 04/13/2016 08:57 AM, trader_4 wrote:
Carter put into place the windfall profits tax on oil, that was
one of the other dopey regulations that I was referring to. When
you take money away from oil producers, it goes into the DC spending
orgy, instead of being left with oil producers so they can develop
more oil.

Evasion on the primary responsibility for the wage and price controls
noted.

How was Nixon responsible for what was happening 6 years after he left
office, with not only Carter in the WH, but Democrats in control of
both the House and Senate? Nixon instituted wage and price controls
in 1971 and they were REMOVED by 1974.

But Jimmy liked Nixon's bad idea so much that he essentially put them back
in place three years later, when Jimmy entered the WH:


https://en.wikipedia.org/wiki/Presid...f_Jimmy_Carter

"In 1977, Carter convinced the Democratic Congress to create the United States Department of Energy (DoE) with the goal of conserving energy. Carter set oil and natural gas price controls, had solar hot water panels installed on the roof of the White House, had a wood stove in his living quarters, ordered the General Services Administration to turn off hot water in some federal facilities, and requested that all Christmas light decorations remain dark in 1979 and 1980.

As reaction to the energy crisis and growing concerns over air pollution, Carter also signed the National Energy Act (NEA) and the Public Utilities Regulatory Policy Act (PURPA). The purpose of these watershed laws was to encourage energy conservation and the development of national energy resources, including renewables such as wind and solar energy.[46] However, Carter opposed a DoD program to commercialize photovoltaics.[47]


There you have it. Price controls and more regulations. Those wage and
price controls were "voluntary", but you know how that works. When you
have the feds setting the numbers, figuring out what the price of oil
should be, what do you think happens to you if you don't comply?

He later came up with the windfall profits tax on oil too. Instead of
profits remaining with the oil and gas producers, where they could have
funded exploration and production, they went to the rat hole in DC instead.
And here's that great mind, Jimmy in his own words, in one of his
lectures to the American people, about why having the govt set
prices was necessary:

"Inflation is obviously a serious problem. What is the solution?
I do not have all the answers. Nobody does. Perhaps there is no complete and adequate answer. But I want to let you know that fighting inflation will be a central preoccupation of mine during the months ahead, and I want to arouse the nation to join me in this effort."


When he made that speech, inflation had already gone from 6% to 8% under
Jimmy. By the time Jimmy was done, it was at 12%. Jimmy didn't know the
answer, Reagan and Greenspan did. Dismantle price and wage controls, get
rid of regulations, get rid of the windfall profits tax, control the
money supply and it's fixed.

On 04/14/2016 07:37 AM, trader_4 wrote:
How was Nixon responsible for what was happening 6 years after he left
office, with not only Carter in the WH, but Democrats in control of
both the House and Senate? Nixon instituted wage and price controls
in 1971 and they were REMOVED by 1974.

https://en.wikipedia.org/wiki/Nixon_shock