Thread: Gas $9 a gallon

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I know cousin Severson likes to pretend that party affiliation doesn't matter (on occasion I agree, but not on this issue), but a House Subcommittee voted on party lines today to kill an amendment that would allow oil exploration off our coasts between 50-200 miles off shore..........FITFTY MILES......BTW, the Chinese are drilling 50 miles off the coast of Florida on behalf of the Cuban govt, and with todays sideways drilling technology what would you bet they'll probably be drilling under Miami.

Since most people now see commodity speculators as having a big part in keeping oil prices elevated it is instructional to understand what they speculate on. In this case it's that oil supplies will remain constricted, thus keeping demand ahead of supply, the price varying depending on how many investors think how much and how long those conditions will prevail. If this country said "enough..........we're going to go full bore on producing every drop of domestic oil we can" the speculators would "panic" and start unloading their positions, even though there's obviously going to be some ramp up time to actual production. Right now, the speculators are betting that obstructionists in our Congress will continue to pander to their special interest lobbyists (tree huggers of all varieties), and so far they've been right. Meanwhile the obstructionists continue to blame anyone but themselves............and too many of our citizens let them get away with it.

Thank you.

[QUOTE=Bob Parmenter]I know cousin Severson likes to pretend that party affiliation doesn't matter (on occasion I agree, but not on this issue), but a House Subcommittee voted on party lines today to kill an amendment that would allow oil exploration off our coasts between 50-200 miles off shore..........FITFTY MILES......BTW, the Chinese are drilling 50 miles off the coast of Florida on behalf of the Cuban govt, and with todays sideways drilling technology what would you bet their probably drilling under Miami as we speak.

QUOTE]

It's not that I feel party affilitation doesn't matter anymore Uncle Bob.....It's just that I now longer see a party I could affiliate myself with.....

IMO the two parties are so damn busy fighting for supremacy and blaming the other party for the problems we now have that absolutely nothing gets done, good or bad!!!!!! Our two party system these days makes about as much sense and accomplishes as much good as rival gangs fighting for turf.... Maybe gang warfare is more effective, if they keep shooting each other maybe we run out of gang members!!!!! Politics is nothing more or less then a power struggle. Whoever controls the White House and the Congress rules with about the same intelligence and mindset as a playground bully in elementary school.....

As for the speculators, as you well know I'm certainly no financial genius, money is just a way of keeping score... I actually take more interest in the standings at the drag strip.... However, I will have to admit that because of my Dad's insistence back in the days that I could actually work hard and generate a decent income I've been fortunate the some investments (and yes some oil company stocks) have done and continue to do very well!!! Maybe I'm part of the problem, too. But occasionally I have to look out for me!!!!

and, don't even get me started on our "unbiased" media..... They really suck!!!!