Getting more oil doesn’t mean we will be able to refine it.

Also, if we’re still depending on Iraqi oil in 100 years (and if it lasts that long) we’re in some seriously big trouble.

And, by the by, Bill O’Reilly talking about “what walks.” Geesh! Hypocrisy! You have found your maker!

After President Obama pulls all of the troops out of Iraq, then the major oil corporations, can hire the major security contractors that are already there, and spend some of the BILLIONS of dollars of their profit to ensure their own security and stop gauging the American People TWICE – Once for Gas and Twice for Billions of Dollars in squandered tax money, that is going to protect oil interests around the world, most notably in IRAQ, EVERY DAY!

You are either a hypocrite, who claims to be against corporate welfare, yet happily cashes his dividend check containing such, or you are a liar, who makes 10 cents/post and doesn’t have a pot to piss in.

Which is it?

Gee, Tracy5 – who needs the stock market when you’re burning up the board with your 10 cents a post!!!

He’s investing his 10 cents per post in oil company stocks, so he can reap the benefits of the massive corporate welfare obtained by fossil fuel industties.

To conclude: One of the chief weaknesses of our economy is that it’s based on wealth and commodities instead of production. When an economy stops producing enough “durable goods”? The whole house of cards is destabilized.

It can be disastrous for the value of currency as well.

Tell me how it’s just a coincidence that oil prices have risen steadily from the time Bush took office. Have stretching demand-supply pulls magically taken place during this period?

From Wonk Room:

— The effects of supply and demand. Exxon Mobil senior vice president Stephen Simon testified the supply-demand equilibrium is at “somewhere around $50-55 a barrel” — about half the current price.

– The weaker dollar. Since 2001, “the dollar has lost 45% of its value” against the euro. In 2003 one gallon of gas in the U.S. cost $1.50 and 1.50 Euro. Today’s $3.60 gallon of gas costs only 2.25 Euro.

– Geopolitical risk. Since 2003, the United States has been committed to a three-trillion-dollar war in Iraq, the heart of the turbulent oil-producing world. Furthermore, the burning of oil is continuing to increase global warming, “one of the greatest national security challenges ever faced.”

– Speculation. “Investors have looked to commodities
not only as a hedge against inflation but as a hedge against the tumbling greenback.

Because they refuse to drill on the 68+ million acres they have leased. Because speculation is unregulated and rampant. Because the saber-rattling toward Iran is not helping. Because the oil honchos want the market configuration to continue yielding them record profits. Because the oil honchos like putting on the act of being helpless victims before congress. It’s makes for a good
boardroom laugh afterward.

1st step? OUTLAW THE CRIMINAL REPUBLICAN PARTY AND SEIZE THEIR ILL GOTTEN GAINS.

As long as they walk free? No one is safe.

The last 30+ years of American Business practices have been devoted to creating wealth, not product.

Here’s a newsflash. Economics don’t work that way!