Out for the Morning

I'm taking reader advice and seeing the eye doctor this morning, but I was wondering about something that I'll leave you with.

Why wouldn't oil shoot up to $130 a barrel when we've made it clear over the years that we won't do any thing to stop it, this unfailing sign of demand increase? No ANWR, no new refineries, demonize the the middle men (oil companies), go hat-in-hand to the Saudis and ask them to increase supply (to help drop the price) and they laugh (Bush).

The oil producing companies (Russia, Venezuela, ME countries) like nothing better than to see us squirm and our economy buckle. That's what envy is about.

Why put up with this when we can help ourselves?

Comments

[Lee Coles]

Okay- demand went down that week United stood down to repair its commercial fleet. It will again w/ less vacation drivers on the road this summer. And homeowners use far less heating oil during spring and summer.

Where will the savings go?

[baldilocks]

Think long-term reduction for demand, Lee.

[Jonn Lilyea]

Americans have made it clear that they'll continue to buy gas at the same rate no matter what it costs. Where's the incentive for the price to fall?

[baldilocks]

If that's true, I'm saying that Americans should change their minds, Jonn.

I don't think it is, however. I think that many don't understand economics. As a matter of fact, I *know* they don't. As a result, they feel powerless to change what's happening.

[Azygos]

baldilocks,

We have not built new refineries but have the oil companies increased their capacity to refine oil? I read in the papers here last year that Arizona was planning on allowing a new refinery to be built. I would do a search but I am at work and not supposed to be on the internet.

[Donna B.]

I heard that about Arizona too, but am too lazy to research it. Our refining capacity is a bottleneck, but so is the refusal to pump oil (and natural gas) that is "politically incorrect".

Why using our own resources should be less politically correct than paying out the wazoo for the resources of other countries is beyond me.

My gasoline consumption has reduced by half - from 4 tanks a month to 2. I'm very conservative with the trips I make the pressure I use on the gas pedal when I do make one.

[DarkStar]

American refineries aren't in the equation unless oil is shipped to the refineries from relatively close oil sources.

The bigger factors are speculation and the fall in valuation of the dollar.

The Fed flooded the market with money by lowering interest rates and then by bailing out Bear Stern and then by providing money to brokerage houses to help keep them afloat.

I haven't paid attention lately, but the price of gold vs. the price of oil had been somewhat steady.

[wayne]

We have 400+ years of fuel in this stinking country and I listened to Turbin Durbin, Chuck (please shoot me) Schumer and some empty-headed blonde commiecrat **** from Florida repeat the "we can't drill our way out of this" crap (right after she got done lecturing the oil CO's about how they were ripping us all off).

I almost gritted my teeth to the point of shattering listing to this vapid moron talk about the dangers of coastal drilling. Funny, the hurricanes of 2005 wiped out scores of oil platforms and yet not one drop of oil has washed up on a coast.

If the good Lord granted me the capacity to turn the Capitol Building into a radioactive crater, I would deliver His judgment on those traitorous bastards in a heartbeat.

This country would be far better of if stench of the filth that make up the US Congress were incinerated and sent home to their father Satan.

[baldilocks]

Easy, wayne.