Posted on Dec 30, 2015
The Scientific Consensus Has Been Dead-Wrong on Oil
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My son sells oil field pipe. With these low prices on gas, he is struggling financially because his bonus check is almost nil. It's great for us when we fill up, but not for those who work in jobs that depend on oil prices that don't put them in the red.
This is from the article, not me, so don't go crawling on my ass if you have a problem with it.
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It would be hard to find anyone in all of America who has been more wrong on the American energy story than Barack Obama.
Oil prices have fallen from $105 a barrel in the summer of 2014 to hovering at $35 a barrel today. That’s a two-thirds reduction in the price, and the biggest factor is shale oil brought to you by fracking. In many areas of the country gas is now less than $2 a gallon, and it could fall further in the weeks ahead.
The falling price means, of course, an expanded supply. But now listen to Obama, who has lectured the nation on energy as if he were one of the top experts for the last eight years.
This is from the article, not me, so don't go crawling on my ass if you have a problem with it.
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It would be hard to find anyone in all of America who has been more wrong on the American energy story than Barack Obama.
Oil prices have fallen from $105 a barrel in the summer of 2014 to hovering at $35 a barrel today. That’s a two-thirds reduction in the price, and the biggest factor is shale oil brought to you by fracking. In many areas of the country gas is now less than $2 a gallon, and it could fall further in the weeks ahead.
The falling price means, of course, an expanded supply. But now listen to Obama, who has lectured the nation on energy as if he were one of the top experts for the last eight years.
The Scientific Consensus Has Been Dead-Wrong on Oil
Posted from patriotpost.us
Oil and Energy
Government
Barack Obama
Posted 9 y ago
Responses: 5
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It is a double edge sword. You have the consumers on one hand who want lower gas prices. And rightfully so. I remember that a pack of cigarettes was cheaper than a gallon of gas. And higher gas prices meant higher prices at the grocery store too. While OPEC and the rest of the money grabbing companies were making billions. Now oil price have gone way down and the consumers are happy. Yet, it cost jobs in the oil industry who are laying people off so they can still turn a big profit. Now with that being said. The technology has been out there since the 1939 to get 50 mpg or more (http://news.nationalgeographic.com/news/energy/2011/04/110418-shell-ecomarathon-houston-winners/). So my questions is, why have they not already started moving on this technology? I believe that it is because of the money hungry oil industry does not want this type of technology in cars. The reason being is that if a car gets 50 plus miles to the gallon, people wont by as much which leads to lower demand and less money for the big companies. I say the hell with these companies. Let us get the technology out there and start using it. One day, we will run out of oil. And then what?
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Keith-I feel your son's pain. All of us working in the "Power" industry are waiting for the floor to rise up and kick us in the...well...you know the story.
I've done a lot of soul searching on the economics involved, and I think some of the previous commentators have it "right"...the Saudis are definitely trying to dilute the market.
However, the "big" issue, that a few have hinted at...and amazingly, our government seems to be "missing" is the total lack of enforcement of Anti-Trust. It's like we've collectively forgotten good Ole' Teddy and his crusade to save the American living wage.
You can't make life better by merely dropping prices of goods...that gets votes in the next election, but doesn't account for inflation. You drive up earnings while lowering prices by creating more competition. Competition means more labor at lower margins...the current policies demand lower costs at fixed margins, which equates to lay-offs and stagnate wages.
I've done a lot of soul searching on the economics involved, and I think some of the previous commentators have it "right"...the Saudis are definitely trying to dilute the market.
However, the "big" issue, that a few have hinted at...and amazingly, our government seems to be "missing" is the total lack of enforcement of Anti-Trust. It's like we've collectively forgotten good Ole' Teddy and his crusade to save the American living wage.
You can't make life better by merely dropping prices of goods...that gets votes in the next election, but doesn't account for inflation. You drive up earnings while lowering prices by creating more competition. Competition means more labor at lower margins...the current policies demand lower costs at fixed margins, which equates to lay-offs and stagnate wages.
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