Oil Prices Rising: Where's the demand?
Just a weakening dollar?2 weeks ago Boone Pickens called $65 oil before it falls back under $40. We aren't there yet - only just over $50 - but the recent surge in oil prices suggests Pickens might be on to something, even far sooner than Boone might have believed.
It's not that oil prices won't ever decline, it's just that the trend is undoubtedly upwards. More important, once America's economy gets rolling again, coupled with the growing world economy, oil demand is going to outpace production and refinement, and prices will spike. It's just that simple.
But, why is oil rising so much today?
Some say its all just a hedge against the declining dollar. So, that's a good thing?
I say its just more painting on the wall that foreign oil dependency has no future, and the longer the US waits to address this issue, the more it's going to cost.
I know it's more fun to focus on AIG bonuses worth a few hundred million versus a risk of a few trillion, but isn't the future more important?
Labels: boone pickens, Foreign Oil Dependency, gas prices
posted by Dahcredyns at
3:06 PM
5 Comments:
Wow you are so right. The current obsession is created by the news media, NOT the public really...the'talking teleprompters' who sit at news desks of Fix and CNN and the like are required to deal with news 1 - that MUST be depressing 2- that must be unsolvable quickly 3- where blame can be fanned over and over...till one wants to puke and throw the TV out the window.....my Gosh many millions want the talking heads to start dealing with LONG TERM COMPLEX issues like PUBLIC TV does....but i forgot that logical methodical accurate balanced investigative reporting does not exist anymore....sorry.
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Regards
Tommy
Maybe a good thing to do is decrease or hopefully eliminate dependency on imported fuel. There's innovations like hybrids and electric cars right now, and I think those can address the problem. Sure, it won't lower the price of oil, but it can reduce the need for it.
new taxes levied against oil companies,the falling dollar,oil leases granted and then taken away 3 months later.could be a few reasons.federal and states taxing everything they can is one reason in illinois gas tax went up 18 cents.false global warming stories that dont say that the temperature has actually flatlined and fallen since 2000.plugin electric cars are no help because the electric companies are 80 percent powered by coal.wait until cap and trade hits!gas is very cheap now
gas is very cheap right now. no doubt.
still, the current gas tax doesn't even cover infrastructure costs, so it has to go up.
EVs do have issues, such as coal, but there are also upsides to EVs. for instance, reduced foreign oil dependency.
u can say what you want about global warming, but i think the dangers of foreign oil dependency are pretty much irrefutable.
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