Three things that will bring down Oil Prices
All the current talk about drilling for oil in ANWR and wind fall taxes on oil companies to encourage alternative fuels will not have any effect on oil prices in the short term, so I made a list that I feel should have an immediate effect on oil prices -
Save the Dollar - Raising the federal interest rates will have an immediate effect on the price of oil per barrel because it will strenghten the US Dollar.
In case people havn’t noticed while the price of crude oil has doubled over the last two years in absolute dollar terms for US consumers, the prices have only increased 60-75% for other countries due to the increase in the value of their currencies as compared to the dollar. The same barrel of oil that was costing the Chinese RMB560 two years ago when oil was at USD 70.00 is now costing them RMB960 when oil is closer to USD140.00/barrel a 72% increase as compared to a 100% increase for Americans. Same goes for the Indians as well as Brazil which are now demanding an increasing share of the oil
No wonder they don’t feel the need to cut back on consumption like we do.
Tell them to Just shut up: If only we could stop people like these
from opening their mouth – Oil shot up almost 10 dollars once news of these comments hit the wires
or things like these from happening - once again price of oil shot up that day
A lot of experts believe that at least 20-30% of oil price today includes a premium for geo-political tensions then just regualr supply and demand economics.
Limit Speculation: While not proven there are a lot of theories out their that believe that the recent run-up in prices is due to vast amounts of money chasing profits in commodities. A lot of this money is borrowed on margin. If they increase the margin limits a whole lot of speculative money chasing quick profits would be out of the market allowing oil prices to stabilize.
Alas in the political enviornment prevailing today, it is more important for our leaders to score political points then find actual solutions to our problems.
Crazies to left of me, Crazies to the right
The Western world may not know this guy but I think now he absolutely lost his mind . He should be arrested and prosecuted for inciting violence but it will never happen. This is the same guy who said few years ago that all the Sikhs in Maharashtra should be rounded up and thrown in the sea.
And then we wonder why there are Hindu-Muslim riots in India every year?
Why drilling in ANWR only means cheaper oil for the Chinese
In midst of the recent drumbeat to lift restrictions on offshore drilling as well as ANWR, I feel an important point is being missed. If we do lift the restrictions, the parties that will benefit the most, apart from the oil companies will be the Indians and Chinese.
I say this because by even the most optimistic accounts the increased production, however big or small that may be, is not expected to come online for at least another 5 years. Americans facing the increased prices of gas at the pump are already making changes to their lifestyle to adjust to this new world – opting for smaller cars or adopting hybrids, changing their driving habits, using public transport or by simply walking more. This is leading to a reduction in demand for oil in the United States and this reduced demand will stay in place(one can always hope) for the long term as all these changes will become habits for this generation.
On the other hand by all accounts the consumption is not even close to peaking in China and India. Most experts believe these two countries have reached only about half their potential. This only means increased demand for more oil that no amount of increased drilling will be able to meet.Accustomed to subsidised oil the populations of these countries are making no effort to reduce consumption and will continue to demand more oil as more people are able to afford cars fueled by increased economic prosperity.
By the time the increased production from ANWR and offshore drilling comes online, Americans will not benefit from it because it will only be enough to satisfy the increased demand from the Chinese and Indians so we will basically be hearing the same argument from the government of that time that we need to increase production to meet demand, only their would be no more ANWR to drill.
What is needed at this time is not increased production but demand destruction? Americans have always been used to cheaper gasoline and have always consumed it as a limitless resource but the increased prices which is still cheaper then many other parts of the world is finally forcing people to make adjustments. Nobody needs an SUV to drive oneself to work everyday. The market forces are already making alternative forms of energy more viable which had always been an excuse not to act in the past. It is absolutely amazing that having lived through this in the seventies we have not made any efforts to wean ourselves of oil in the past and are willing to go down that road again. For all the talk about American entrepreneurship and innovation this has to be the most shortsighted ideas one has seen emanate from our leadership. For people demanding that drilling be allowed in ANWR are only putting off the inevitable and will only weaken us for the future when we still haven’t found any alternatives for our energy needs and their is no more oil to drill.
What is next for Rudd – A Botox injection
This is what they are talking about in Australia …
Shouldn’t he care more about inflation and interest rates then his looks. You didn’t get voted in for the GQ magazine Mr. Rudd
Maybe John Howard should get a facelift and his eyebrows tweaked and run for PM again.
This is absolutely hilarious
I can not stop cracking up.
And he actually loses his temper in the middle.
Why McCain is wrong?
I tried to give Senator McCain the benefit of the doubt in light of his long history of public service, but I can not even fake the support for him any longer. In his zeal to please the lunatic right wing of the Republican party, I believe the Senator has truly lost his bearings and grown out of touch with the reality. I find it unbeliveable that the Senator with a record such as his own, does not understand the complexity of the Supreme Court decision, and went out not only to denounce the ruling but to praise the Chief Justice Roberts for dissenting.
What the Senator has failed to grasp is that it was the Bush adminsitration that finally pushed the Supreme Court’s hand, which after being given repeated chances to explore different options for trying the detainees, failed to come up with any idea short of running out the clock and leaving the problem for the next administration. While I am no legal expert, the excerpts that I read of the ruling pertain to fact that you cannot hold anyone, U.S. citizen or not, indefinitely. It has been six years since the first of the detainees were caught. The Senator should infact be happy that the court made the decision and saved him a whole lot of trouble in case he ever became the President. For the Senator to say that they will now have the same rights as U.S citizens is nothing more then fear mongering and an attempt to pander to a certain segment and does not justify his claim to “Straight Talk Express”.
Please, Please, Please … Damn I am fat
Japanese government introduced a new law where people between the ages of 40 and 74 must meet national guidelines for waist size or, face hefty fines. This guy failed the test becuase he was just over the limit of 33.5 inches.
Normally I would be all for something like this but 33.5 inches waist limit for men??? Come on !!! How much is the fine?? I may need to get an extra job to pay for the fine every month if they ever introduced the law here in the States.
McCain – Bloomberg Ticket
If Obama-Hillary or Hillary-Obama ticket was considered a dream ticket at one time for the Democrats, I believe if Senator McCain really wanted to bring it on to Senator Obama he would pick the New York mayor as his running mate. I don’t think any republican ticket would have more appeal to independents, moderate Republicans and Democrats as these two.
Mayor Bloomberg brings decades of experience running a very successful business and that experience would go a long way in burnishing McCain’s credentials on economy. You would have two independently viable candidates with vast experience in economy and foreign policy
I think that would be something to get excited about.
Supreme Court backs rights for Gitmo Detainees
By now you have probably heard that the Supreme Court ruled in favour of Gitmo detainees for the third time making way for them to challenge their detentions. Leaving aside the morality and the legality of ones position what I want to know is who on earth is the one advising this administrations regarding the legality of their positions and do they still hold their jobs. Any other place if you gave your boss the incorrect information or advise that caused your employer to look bad you would not only be fired on the spot but would most likely be hunted out of the industry so fast that you would be unemployable to for the rest of you life where as in this case I can name a few who not only left the adminsitration but also found jobs afterwards despite their fiascos.
As for the prople still in the administration I fail to understand how these people’s mind works, do they just wake up every morning and dream up different ways to embarrass George W Bush. I have by no means the slightest bit of sympathy for this administration but even I am starting to feel sorry for the guy. Every day he is humiliated in public by one or the other gaffes of his subordinates. It seems former employees are lurking in dark corners waiting to stick a dagger in his back. It is bad enough having to live with the specter of being relegated in history books as one of the worst administrations America had, but to be humiliated every day in the media makes me even feel sorry for the guy. So much so the guy has even started expressing regrets for things he did in the past
I don’t think this is what he wanted to become President for and if I were the media I did be careful not to push too far in case he decided to go ballistic and say you ain’t seen nothing yet and decide to invade Iran just to mess everything up for everybody.
Dick Morris should be Unemployed Now
If there is any good that will come out of Hillary Clinton’s loss in the Democratic Primaries, it will be that Dick Morris should be no longer required, over at Fox News to put forth his bullshit, pseudo-analysis while promoting himself. For some reason Dick Morris generates the greatest revulsion inside of me and I don’t even know the guy. I guess it is more so a combination of him and O’Reilly on FOX putting forth this drivel they call commentary every night.
Dick Morris could only talk about the Clintons, they were his fascination and obssesion and with them out of the picture now, there should be no reason for him to be employed at FOX anymore and thank goodness for that.
Obama speaks about Israel, Troop Withdrawl and Iran
Obama is on CNN in an interview with Candy Crowley. Is it just my feeling or does he really look like he is thinking “What the ***k did I get myself into ?” His positions and opinions are evolving on every issue every single day -
On the Israel – Palestine issue he has managed to piss off both parties in one day by stating the Palestinians have no right to Jerusalem and to make matters worse the Israelis don’t like him, at least not yet.
On Iraq – Now He is open to hearing what Gen. Petraeus has to say so if the good general tells him, we need to stay their for a few years which I think we need to, their goes the troop withdrawl.
On Iraq – From unconditional meetings, to meeting of low-level diplomats, to meetings with pre-conditions, to now only if it promotes America’s interest
Do you know one old guy who sounds like that ??





