Uuuuuuuum..............Oil is now at $133 a barrel

[comsnark]

Don't expect any resolution out of Washington on this one. The two parties are way too far apart to agree on anything that makes sense regarding the whole energy situation. We have one of the most serious economic crisis in modern history going on and all they can do is disagree. Disgusting...........absolutely disgusting.
:smt013:smt013:smt013

I think many people would have a problem even defining *what* the problem is that they are trying to solve.

Is it a supply problem?
I have no problem getting gasoline. Neither do my friends.

Is it a "dollar" problem?
The Euro used to be $0.80. Now it is what? How is that affecting oil pricing?

Is it a "speculator" problem running up prices?
- - - - And how do you propose to "regulate" that form of capitalism?
- - - - -Are you going to tax "capital gains" on oil transactions different from "stock" transactions?

Is it a "greed" problem? Profiteering? Collusion?

Is the problem that an American company like Exxon is making huge profits?
Or is it a problem that Foreigners are having huge profits?

- - - - -

Bottom line; there is more to solving this than just "drilling".

 

[Turtlesboat]

Drilling here will fix many many problems, not all but enough to make a difference. It might even create some new problems. But I would rather have a problem to deal with on US soil rather than a problem to deal with on hostile foreign soil.

And while we're at it, lets get off this crazy ethanol farce.

 

[Rock Hall]

I believe you are correct. It is a combination of all your points. But then again, lets address each one and fix the ones we can. The first being tapping our existing domestic supply.

 

[Boulder GT3]

Drilling here will fix many many problems, not all but enough to make a difference. It might even create some new problems. But I would rather have a problem to deal with on US soil rather than a problem to deal with on hostile foreign soil.

And while we're at it, lets get off this crazy ethanol farce.

Well said. It is a multi-faceted issue and it is exasperating when people grab on the issue de 'jour be it taxes, drilling , shale and so on.

A decent understanding of the following needs to exist:

World commodities markets
Currency impacts
Reserves
Usage
Exploration
Production
Refining
Distribution
Alternative energy

Unless you can look at the whole picture grabbing a single issue is a waste of time. And grabbing the whole picure in the form of a cohesive energy policy is what our government should have done. I had high hopes for Bush as he understood energy and had the house and senate but he has frittered away the opportunity. Now we near panic mode as it burdens the economy.

 

[Dave S]

I think many people would have a problem even defining *what* the problem is that they are trying to solve.

Is it a supply problem?
I have no problem getting gasoline. Neither do my friends.

Is it a "dollar" problem?
The Euro used to be $0.80. Now it is what? How is that affecting oil pricing?

Is it a "speculator" problem running up prices?
- - - - And how do you propose to "regulate" that form of capitalism?
- - - - -Are you going to tax "capital gains" on oil transactions different from "stock" transactions?

Is it a "greed" problem? Profiteering? Collusion?

Is the problem that an American company like Exxon is making huge profits?
Or is it a problem that Foreigners are having huge profits?

- - - - -

Bottom line; there is more to solving this than just "drilling".

I am not sure why you quoted me when making the above reply. First off I never said that drilling was the only answer. Read some of my previous posts.

Right now the only folks who can make any kind of changes to start to bring this "10-headed monster" under control sit in Washington and they are doing nothing except disagreeing with each other. We can all analize this thing to death, but our elected public officials need to make some changes and resolutions starting now or we are going nowhere on this one except deeper into uncertainty and instability.

This is my last comment I will post on this thread. We all understand this is a complex problem and why continue to beat it to death?

Dave

 

[comsnark]

Dave;

I quoted you because I agreed with what you said.