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POPSCall Congress Back to Vote on Drilling August recess?? Forget it! They've stuffed the business of the people for months and are stonewalling even now. Put it up for a vote....or shut up. This has nothing to do with drilling for oil; it has to do with the continuation of the obstructing of this Bush Administration. If it were a Democrat in the Presidency, progress would have already be made.
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POPSDo Not Read This ! At the current state of our planet, and mounting evidence to human induced climate change, these rich resources of fossil fuels are nothing short of a Faustian proposition.
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POPSNothing says ‘drill safely’ like the smell of diesel in the French Quarter "Nobody was injured, but more than 419,000 gallons of heavy, almost tar-like fuel oil spilled from the barge, forming a slick 12 miles long, said Lt. Cdr. Cheri Ben-Iesau, a Coast Guard spokeswoman." The collision occurred about 1:30 a.m. CDT just upriver from the Crescent City Connection, a pair of bridges between New Orleans’ east and west banks. ~and I repeat~ "Nothing says “drill safely now” like an oil spill that closes 29 miles of the Mississippi River near New Orleans."
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POPSCommission Finds Oil Price Manipulationby
Wisco Yesterday 3:45 PM The article goes on to say "...overall, most experts say the incidents are so scattered, and the energy market so large, that it's unlikely a single trader or group of traders can have substantial sway over prices." Of course, if this turns out to be an even fairly common crime, then the cumulative effect could be much larger. After the big corporate crime wave of '04, I think it's foolish to give them the benefit of the doubt.
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POPSSpeculators Chase the Money not Make the Money
I have a couple concerns about this story. One, even though it's a very small incident that had a negligible impact on the markets, I have a feeling politicians are going to use it as an example to introduce laws prohibiting or reducing oil trading. This despite the fact that there's even more research out there that says trading has not artificially inflated prices. It's supply and demand people - demand is greatly increasing, while supply is staying flat - of course prices are going to skyrocket. Second, it uses the correlation between the increase in oil price and the amount of money going into oil futures. Yet another basic market principle people - investors are going to chase hot items. Oil starts to go up, people anticipate it continuing to go up due to supply/demand issues, investors invest in it to hopefully make a profit. Finally, don't forget the dollar - people use oil as a hedge against inflation, which his been going up due in part to the weakening dollar.
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POPSWall Street Likes The Bailout Plus Drill, Drill, Drill
But my thought is that a Senate victory might just blow Pelosi out of the water and open the floodgates to Democratic defections in the House. If a drilling bill ever passes Congress, oil prices will keep on plunging — perhaps all the way to $75 a barrel, which is the profitable break-even point for lifting the extra barrel of oil. That would drive the Dow to somewhere between 15,000 and 16,000, and it would have a huge tax-cut effect on the economy. And, of course, it could completely change the November election outlook in a highly favorable way for the GOP. The conventional wisdom says Republicans are gonna get clobbered again this fall. But drill, drill, drill would overturn that wisdom. More drilling today would have the potency of the Reagan tax cuts 28 years ago in the 1980 landslide race. But the GOP has got to make the case. And deregulating oil, which is great policy, would offset much of the bad policy pain coming out of the Fannie-Freddie housing bailout.
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POPSThe Truth About Afghanistan Every American Should Know The pre-9/11 plan to invade Afghanistan and the oil pipeline deal behind it, that neither McCain nor Obama will discuss as relevant. Again 9/11 was the pretext for both Iraq and Afghanistan regime change and arranged prior to that "catalyzing event". pre-911: Unocal lavished money and attention on Taliban, flew a senior delegation to Texas Now: Afghanistan just signed a major deal to launch a long-planned, 1680 km long pipeline project expected to cost $ 8 billion. "Mission accomplished". Note the role that Karzai played prior to his installment. Note also how Pakistan fits into this equation which has nothing to do with terrorism. But there are only two practical ways to get gas and oil out of land-locked Central Asia to the sea: through Iran, or through Afghanistan to Pakistan. For Washington, Iran is tabu. That leaves Pakistan, but to get there, the planned pipeline must cross western Afghanistan
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POPSNow Bush Is Appeasing Iran joined envoys from France, Britain, Russia, China and Germany in talks with Saeed Jalili -- Iran's nuclear negotiator and an Ahmadinejad confidant -- about incentives to give to Tehran. ven with record oil prices, mismanagement has driven the Iranian economy into the ground. On July 14, the Ministry of Housing reported an "historical" 125% rise in housing prices. The same day, Tabnak, a news Web site run by a former head of the IRGC, admitted foodstuff inflation had reached 50% annually. On July 8, 2008, a National Iranian Oil Company executive acknowledged in the Iranian press that, without significant investment in infrastructure, Iranian oil production would decline each year by 300,000 barrels a day. In the past month alone, Iranian workers have struck for unpaid wages at the Khodro automotive plant (which assembles Peugeots), the Alburz Tire Company, and the Haft Tapeh Sugar Cane factory.
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POPSMcCain: “Oil executives” tell me my energy plan is awesome the full text of the last position is: The latest: During today’s town hall meeting in New Hampshire, McCain says “oil executives” told him we “could see results” from offshore drilling “within a couple of years.” McCain was in New Hampshire this afternoon where he unveiled the latest excuse for coastal drilling. Oil executives tell McCain that “within a couple of years we could be seeing results from it.” There’s no doubt that oil companies will profit handsomely from McCain’s coastal drilling plan. It’s helpful that McCain would relay that to an audience of voters.
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