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Gas prices have doubled
RichH wrote:
What an absolute bunch of political/religious CRAP offered for the doubling of petro prices. The simple economic answer is: 1, The US dollar has decreased 60% versus most of the worlds currencies .... due to lack of confidence due to the current USA financial crisis (and without pointing to any blame to the liberal district US federal court policies that triggered this) 2. The worlds petro supply has probably peaked production ... no increase in production visible to accomodate the increased demand of China and India. The 'producers' are running 'flat-out' and physically cant pump more. Bush didnt do it, Buddha didnt do it, Bernacke didnt do it. There simply is not enough world petro production to meet worldwide demand. The situation for the USA will get much much worse as if the USA petro production remains restrained vs. further domestic exploration and development and the US economy goes even deeper into the tank the demand will increase while the supply is further artificially reduced by the politicians. The shame is that 'alternatives' cant possibly replace whats being artificially reduced/restrained as their supply isnt more than 'developmental' stages and are extremely inefficient, etc., it will take 15-20 yrs. to get the 'alternatives' up to any level to make any difference. Hence, I join the speculators who have targeted (bet) that energy costs will escalate on an exponential scale. This is the 'change' that our population voted for in 2006. Apparently the 'change' that was offered in 2006 was actually the few coins left in ones pocket .... just wait until the current 'tax cuts' expire and then see how much of that 'change' is left in your pocketbook. Its not going to be a happy world/USA economy for the next 18-24 months. Agree, and I'm voting NOTA (none of the above). Gordon |
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