Dow Down 400 - Oils hits $139 - Why?

[~ Parrot Bay ~]

Well, the Dow is down because of the dollar dropping and unemployment numbers.

But it seems oils is up because an Israel Cabinet minister says they will attack Iran over its Nuclear Program.

http://news.yahoo.com/s/ap/20080606/ap_ ... ael_iran_2

Now we need a good ole hurricane in the Gulf!

[Bfan53]

Well, the Dow is down because of the dollar dropping and unemployment numbers.

But it seems oils is up because an Israel Cabinet minister says they will attack Iran over its Nuclear Program.

http://news.yahoo.com/s/ap/20080606/ap_ ... ael_iran_2

Now we need a good ole hurricane in the Gulf!

Can't help but think that if our government and business leaders had addressed alternative fuel sources back in 1979 we wouldn't be in this death spiral of oil today........

Germany during WW2 converted coal to gas. We have coal.......

Brazil decided in 1979 to promote ethanol from sugar cane. Today, they run the country on ethanol and even export it.......

The list goes on while the US consumer is told just to bend over and accept higher oil prices for the forseeable future.......

[Gulfbreeze]

George Will has some pretty valid points...

Just a snipet:

Drilling is under way 60 miles off Florida. The drilling is being done by China, in cooperation with Cuba, which is drilling closer to South Florida than U.S. companies are.

ANWR is larger than the combined areas of five states (Massachusetts, Connecticut, Rhode Island, New Jersey, Delaware) and drilling along its coastal plain would be confined to a space one-sixth the size of Washington's Dulles Airport. Offshore? Hurricanes Katrina and Rita destroyed or damaged hundreds of drilling rigs without causing a large spill. There has not been a significant spill from an offshore U.S. well since 1969. Of the more than 7 billion barrels of oil pumped offshore in the past 25 years, 0.001 percent -- that is one-thousandth of 1 percent -- has been spilled. Louisiana has more than 3,200 rigs offshore -- and a thriving commercial fishing industry.

http://www.realclearpolitics.com/articl ... y_des.html

[krusin1]

Basically, you can thank the left-wing enviro-whackos for your pain at the pump.

France gets 70% o f its power from nuclear, while here in the U.S. we haven't built a reactor in decades. New coal plants are near impossible to build, they throw hissies any time we suggest drilling for oil, nobody's been allowed to build a refinery in over three decades, and they even get mad when you build a wind farm anywhere near where THEY live (ask the Kennedys about that one.)

Never underestimate the power of stupid people in large groups.

Common sense has gone the way of the dodo.

[SharkOnLand]

I blame China.

[flyboy55]

. . .
Can't help but think that if our government and business leaders had addressed alternative fuel sources back in 1979 we wouldn't be in this death spiral of oil today . . .

The government (Carter) did. But the next government (Reagan) believed that government had no business doing those kinds of things so those kinds of programs had their funding cut. But then, Reagan was never accused of being a forward thinking kind of guy.

[bocanuts]

Basically, you can thank the left-wing enviro-whackos for your pain at the pump.

France gets 70% o f its power from nuclear, while here in the U.S. we haven't built a reactor in decades. New coal plants are near impossible to build, they throw hissies any time we suggest drilling for oil, nobody's been allowed to build a refinery in over three decades, and they even get made when you build a wind farm anywhere near where THEY live (ask the Kennedys about that one.)

Never underestimate the power of stupid people in large groups.

Common sense has gone the way of the dodo.

The same left wingers who lied to us about a war? Opps, that was the die-hard right wingers wasn't it?

[krusin1]

. . .
Can't help but think that if our government and business leaders had addressed alternative fuel sources back in 1979 we wouldn't be in this death spiral of oil today . . .

The government (Carter) did. But the next government (Reagan) believed that government had no business doing those kinds of things so those kinds of programs had their funding cut. But then, Reagan was never accused of being a forward thinking kind of guy.

Um.... Reagan... not forward thinking....

Does "Mr. Gorbachev, tear down this wall" ring a bell?

Let's see now... in the judgment of history.... Reagan=successful president, Jimmy Carter = er, not so much.

Geesh. Reagan WAS right - government doesn't have any business doing that kind of thing. The government does, however, need to get out of the way and let us fix the problem.

Ten scariest words in the the language: "I'm from the government and I'm here to help you."

[krusin1]

Basically, you can thank the left-wing enviro-whackos for your pain at the pump.

France gets 70% o f its power from nuclear, while here in the U.S. we haven't built a reactor in decades. New coal plants are near impossible to build, they throw hissies any time we suggest drilling for oil, nobody's been allowed to build a refinery in over three decades, and they even get made when you build a wind farm anywhere near where THEY live (ask the Kennedys about that one.)

Never underestimate the power of stupid people in large groups.

Common sense has gone the way of the dodo.

The same left wingers who lied to us about a war? Opps, that was the die-hard right wingers wasn't it?

The same left wingers that brought us the killing fields of Cambodia by refusing to approve aid requested by President Gerald Ford. The same left wingers that couldn't rescue a few dozen hostages in Iran. The same left wingers that want to throw away the gains our heroic men and women in uniform have made in Iraq over the last 8 months.

Yup. The same left wingers.

[tikiwoman]

I think the problem is that there is plenty of blame to go around but no one with vision- at least not running for President. Both candidates support cap and trade which will only make things worse. It is up to the people to let Congress know we want solutions and nothing should be off the table- drilling off seas and shale oil, nuclear, and green solutions such as hydrogen cells and solar energy. We can do it as a nation if we work together but I see no one in this country politically who is willing to be visionary on this. Not "maverick" McCain and not "hope and change" Obama. Our government needs to wake up and let American ingenuity work- instead needed solutions now until better solutions are found are blocked. It is like a cancer patient saying they won't take chemo because it is bad for them and they prefer to wait for the cure- problem is the cure could be 10 years away.

Val

[Glorfindel7]

The long and short of it is that it's bad.... going to get worse... and I'm more concerned about the value of a dollar than I am about the cost of oil...

[lati2d]

Jim Cramer ( Mad Money ) on CNBC just said on the Nightly news that gas would be $ 5.00/ gallon by Fourth of July. Sure glad I don't own one of those gas guzzlers.

[alphabits]

George Will has some pretty valid points...

Just a snipet:

Drilling is under way 60 miles off Florida. The drilling is being done by China, in cooperation with Cuba, which is drilling closer to South Florida than U.S. companies are.

ANWR is larger than the combined areas of five states (Massachusetts, Connecticut, Rhode Island, New Jersey, Delaware) and drilling along its coastal plain would be confined to a space one-sixth the size of Washington's Dulles Airport. Offshore? Hurricanes Katrina and Rita destroyed or damaged hundreds of drilling rigs without causing a large spill. There has not been a significant spill from an offshore U.S. well since 1969. Of the more than 7 billion barrels of oil pumped offshore in the past 25 years, 0.001 percent -- that is one-thousandth of 1 percent -- has been spilled. Louisiana has more than 3,200 rigs offshore -- and a thriving commercial fishing industry.

http://www.realclearpolitics.com/articl ... y_des.html

In regards to Florida, haven't the last two governors (both Republicans - or are they left-wing whackos?) been against drilling off the Florida coast? And from what I understand, the US was invited to drill in the same area where the Chinese are ..... but our governmental regulations prevent it (because it would involve doing business with Cuba). Pretty sure no left-wingers were responsible for that (since Castro was supposed to be their hero).

There are plenty of reasonable people on both sides of this issue (actually a whole gamut of issues). But I guess it's always convenient to blame somebody else ..... keeps us from considering our own role in this mess.

[Lightning Bolt]

It always cracks me up how the "conservative, small government" apologists for this historically inept president would try to have you believe that
"big government" would be the WORST possible scenario, and that taxes are the work of the devil himself.
Who would pay for Wino's job, and other law enforcement and all your other state jobs (firefighters, teachers, engineers, etc....) ?????

...all while this administration looks the other way and whistles as free market forces drive up the prices (and robs us silently) for fuel, food, and clothing ... things WE all need,
while our paycheck shrinks in value due to the weakened dollar. The Bush Boys don't believe in a strong dollar, y'know... they're too busy selling the country
(ranging from Wal-Mart to mortgages to corporate pension funds) to the governments in Saudi Arabia and China to pay for
YOUR meager tax cuts. That's a pretty dumb-aSS trade-off, people!!

Right-winger "conservative" -types (:lol: that's a joke) better get ready for a new sheriff, since y'all BOTCHED this one up reaalllly good.
The picture of how we are WHERE we are now is A LOT bigger than .... "uh, yup.. we should drilled fer that dadburned oil!".

..and lay off Jimmy Carter. He's done and does more good for more persons than YOU or ME!!!

[krusin1]

..and lay off Jimmy Carter. He's done and does more good for more persons than YOU or ME!!!

Stagflation, incapable military, misery index, complete naivete' about foreign affairs.... lot of folks suffered for good ol'Jimmy....

[lati2d]

..and lay off Jimmy Carter. He's done and does more good for more persons than YOU or ME!!!

Stagflation, incapable military, misery index, complete naivete' about foreign affairs.... lot of folks suffered for good ol'Jimmy....

Wow- Change " incapable military" to " incapable military policy" and your description of Jimmy Carter fits George W Bush to a tee!

[krusin1]

..and lay off Jimmy Carter. He's done and does more good for more persons than YOU or ME!!!

Stagflation, incapable military, misery index, complete naivete' about foreign affairs.... lot of folks suffered for good ol'Jimmy....

Wow- Change " incapable military" to " incapable military policy" and your description of Jimmy Carter fits George W Bush to a tee!

I'm guessing you weren't around to endure Jimmy's time. Unemployment was about double what it is now, inflation was 2-3X what it is now, and the military was INCAPABLE as a result of JC failing to fund or support them. The mission to rescue the Iran hostages failed because the equipment/machinery didn't even run properly.

Say what you will about GWB, under him our military is effective and capable - even with the strains Iraq has caused.

[lati2d]

..and lay off Jimmy Carter. He's done and does more good for more persons than YOU or ME!!!

Stagflation, incapable military, misery index, complete naivete' about foreign affairs.... lot of folks suffered for good ol'Jimmy....

Wow- Change " incapable military" to " incapable military policy" and your description of Jimmy Carter fits George W Bush to a tee!

I'm guessing you weren't around to endure Jimmy's time. Unemployment was about double what it is now, inflation was 2-3X what it is now, and the military was INCAPABLE as a result of JC failing to fund or support them. The mission to rescue the Iran hostages failed because the equipment/machinery didn't even run properly.

Say what you will about GWB, under him our military is effective and capable - even with the strains Iraq has caused.

Well - I'll be 58 next month so I WAS around in 1979 ( I was a young 28 ).
I will grant you that the military is both effective and capable - BUT GWB and his military fiasco in Iraq is neither effective or capable.

[SMLCHNG]

It's all Cuervo's fault.

[Tequila Revenge]

Go to your Netflix account and choose, "Who Killed The Electric Car."



Big Oil + ALL levels of govt + Industry = SCREWED CONSUMER