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Old 05-13-2008, 03:27 PM   #113
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Senator Bingamon (NM) speech

A couple of days ago, Senator Jeff Bingaman (NM), chair of the Senate Energy and Natural Resources, gave a very interesting speech about the current state of affairs. The ABQ Journal got a copy of the complete speech. It is somewhat long, but very well worth the read.

I'll link to the ABQ Journal version here, but I'll go ahead and attach a Word copy (scanned), too.

ABQNews - Bingaman Talks on Gasoline Prices


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Old 05-13-2008, 04:17 PM   #114
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Old 05-13-2008, 04:58 PM   #115
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Fuel Prices

I couldn't help but respond again to this subject. I too read the Senator's letter and his solution does nothing to fix the problem. His two main points:
  1. Reduce the incentives for speculation in the oil market, and;
  2. Strengthen the dollar by showing some commitment to getting our own fiscal house in order.


If he really wants to effect commodity market speculation to bring down the price of oil all he has to do is to have a majority in congress in both houses to immediately agree to eliminate all barriers to allow new refineries to be built and agree to drill in ANWR. The oil on the commodities market would see the prices drop off a cliff. As long as the markets really believed our government was serious about getting out the way.

However, this does not immediately produce one more ounce of oil but it will send an appropriate signal to the market right now that our government will institute changes that will affect the price of oil.

On the dollar: The only way to strengthen the dollar is to eliminate the Federal Reserve and tie our currency something other than thin air. BTW, if you don't know it, the Federal Reserve is a privately owned bank that our government borrows from. The Feds creates money from thin air and you and are paying taxes that enable our government to pay the interest on the that debt created from thin air. But it would help if all of our government entities would only spend what they take in.

This gentleman has a series of articles pertaining to the Federal Reserve system:

The Money Changers, Part I: The US Federal Reserve


I found this article very interesting from a different oil company viewpoint:

In Defense of 'Big Oil'

A couple snipits from it:

"Peter Robertson, vice chairman of Chevron, told me it’s a myth that oil companies are not investing in new energy sources. He says last year alone, Chevron spent $20 billion exploring new sources of energy. "

"The last refinery built in America was in 1976. Tighter government regulations are the main reason."

"Robertson said there would be plenty of oil available to the United States if the oil companies were allowed to get it: “Eighty-five percent of offshore oil is off-limits.” "

"The technology has become so good, he said, that during Hurricanes Katrina and Rita, “one thousand offshore wells were destroyed (in the Gulf of Mexico), but not one leaked.” Australia, he said, has allowed offshore drilling for 40 years without any environmental damage."

"In addition to the sinking value of the dollar, here is the main problem: According to the Department of Energy, U.S. oil production has fallen approximately 40 percent since 1985, while the consumption of oil has grown by more than 30 percent."

"According to government estimates, there is enough oil in areas accessible to America — 112 billion barrels — to power more than 60 million cars for 60 years."

Here's another article on our oil trouble: OVER A BARREL


And then a couple of recent cartoons that hit the nail on the head.
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Old 05-13-2008, 05:10 PM   #116
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Quote: "We told our daughter and son that we intend to enjoy their inheiritance. Our daughter replied, "That's okay, Dad, we are only expecting to receive a big bunch of camping equipment anyway."

Camping, in the old-fashioned sense of minimal accouterments, may make a comeback, folks traveling by rail or air then by bus or what-have-you to their destinations. I'm certain we'll all find a way to use these trailers to our advantage and privacy, even if it means putting them and the tow vehicles on diets that get us above 20 mpg at, say, 55 mph.

The value inherent in a well-used trailer of this quality will transcend the problems of this period. There will be a use. I've already said it elsewhere: if bad weather makes my home un-inhabitable, then my trailer makes it possible for me to live comfortably until the right contractor with the right supplies, etc., make it possible to move in. And that may take a year to three years judging by the Katrina mess.

Plus, what a great thing to "inherit" if that's how it works out in the above quote! I'd have loved to have inherited my grandparents Streamline, but I'm about 30-years late on that one.
1990 35' Silver Streak Sterling; 9k GVWR.
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Old 05-13-2008, 05:48 PM   #117
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Originally Posted by DFord79
Well, I guess maybe Germans might pronounce my name as Übank (ue being an orthographic alternate for Ü), but most folk here use Eubank. (Ü also sounds a whole bunch different from U or Eu.)

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Old 05-14-2008, 08:50 AM   #118
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I watch who wants to be a millionare with my wife. One of the questions was how much would each American have contribute to pay off the national debt The answer turned out to be $30,000.00 from each of us would retire the debt.

I found that surprising as I had thought it would have been more than that...


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Old 05-14-2008, 09:06 AM   #119
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I heard something interesting on tv about farming and fuel. It takes a lot to keep cattle and then process meat and get it to the consumer these days. If everyone ate 20% less beef it would amount to savings as much as fuel consumtion on the road, or some such thing. (aka I don't like to get bogged down with facts or origins ) I take that with a grain of salt (and pepper) But I could do that. Just food for thought...


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