jstol3's Blog

It is a combination of people, it is the people who bought the carberator that gets 60 to 70 mpg, it is blocking oil drilling and building refiners in the USA from back during the first oil shortage, it is not developing alternatives to fuel oil long ago when the government first knew this was coming, it is lies about a shortage of corn when the government still pays farmers not to grow crops, it is the auto industry for not building more gas ecconomic autos. And it is ours for sitting back and doing nothing except letting it go on and on. The oil companies make 4 cents on the sale of gas, the government makes 16 cents. so the oil companies may be making money but it is because we use so much. How much is the government making?

What's so funny is people are making a big deal about cars like the Prius that get like 55MPG. 15 years ago my girlfriend had a Honda CRX that got 52MPG and it wasn't a hybrid. So in 15 years they made a car that gets 3MPG better and it costs twice as much as that car did. Now that is progress. The auto manufacturers are partially to blame, the American people are partially to blame, speculators are a huge factor, and of course China.

Oil soars today

Key sentence in this article (see below) is one of the biggest reasons - I've been saying all along. The dollar is getting devauled because of our inflationist monetary policy.


"It's been hand in hand with what the dollar's been doing," said James Cordier, president of Tampa, Fla.-based trading firms Liberty Trading Group and OptionSellers.com"


Ya sure you got your tax rebates. Ya you got bear stearns bailed out. Unfortunately your money is now worth far less, and will continue to drop. As the dollar goes down, the price of foreign goods go up.

But nobody sees this because it's very insidious. It's theft via inflation. The fed turns on the money pump to ease the short term pain, and we pay more later on.

Specuators are groups such as airlines and trucking comanies. They're just trying to lock in a good price.

And man, o man, I can't believe the urban legend of the 70 mpg carberuator bought up and stuck in a vault is still alive LOL

ChiefsFan -

I live in Missouri and I see them working on the roads all the time - not as much as I would like to but I do see them.

jp -

Speculators are more like the guys on the floor of the stock exchange or auction - they are bidding against each other just so they can get some - oil that is. The ones who are willing to bid the highest price are the ones who are going to get the good(ie)s.

Could it be that we will be bankrupted by the Chinese over oil just as we bankrupted the Soviet Union over arms?

In many ways the sleeping giant of China was our friend until they began to embrace capitalism. All the more reason for us to become energy self sufficient.