And it is the first time in history that this has ever happened. Sure it seems scandalous, but how many businesses do you know of maintain production levels when demand falls? Don't get me wrong, I'm not taking up for Bush or OPEC, but it is what it is. OPEC is more or less a business selling a product, and they want to maintain margin. (even though they pretty much have the world by the nuts)
nice try. OPEC is a cartel. it is many nations with nationalized businesses working together in collusion. It is the opposite of a business. More like a mafia. I have my doubts that you will see prices go up. Downward pressure is extremely strong, and this will have the effect of holding the line or slowing the downward slide but is unlikely to push prices to last month's levels.
But it does illustrate how markets don't have the best interests of societies in mind. It's not the first time in history it won't be last. What it demonstrates is that capitalism and free trade do not always benefit society. They only exist to benefit their own bottomline. They do not float all boats, in fact they seek to float only some in order to gain a more profitable bottom line. We are seeing this now with the bailouts, only the financial institutions that risk and manipulated their books are being bailed out, the workers that bought their crap are told to suck it up. We are told it's our fault.
All the more reason to drill the ANWR. If the people who live up there want the drilling, who are we to stand in the way.
Because it is now one of the few untouched places in our environment. Currently protected by our government. And during this period in enviornmental changes it may be where we will ultimately find the solution to Al Gore's global warming challenge. Allow corporations to impinge on it and you lost that resource for solving the problem. Selling the rights to resources won't necessary grant this country more oil. Not unless the leasing rights are written differently, but who's even talking about that.
And we could follow Palin's lead and allow hellicopter kills of multiple species. That would be fun, and perhaps profitable for a few.
Or we could push flex fuel vehicles. And not rely on oil so much. And nuclear power plants they are not the answer for working people or neighborhoods and children, but I'd bet McCain and his rich friends hold stock ad will make a fortune. And carbon offsets, I don't have any to sell, but I bet there are a lot of people poised to win on this one. Gore and a lot of politicians have already invested. I just have a hard time believing selling the priviledge to pollute has any benefit to society as a whole. It may benefit a new market, but I am watching what the market does for the working person. I am seeing my life savings disappear through the market. No one is bailing me out.
*mutters something about peak oil and 35 YEARS of suicidal energy policy since the oil crisis of 1973*
The multinational companies poised to get the ANWR and off shore rights are members of OPEC, they will cut production when OPEC tells them to. We may have more holes drilled in our national parks and coastlines, but it's not going to bring down the price of fuel. It's not going to provide US gas to US citizens it's going to make a lot of globalists wealthy while they laugh at our stupidity.
Because it is owned by all of us. I for one am not going to support losing a wilderness forever to supply < 5% of the nation's oil for 10 years. But even more, I don't support the fairy tale that we can drill our way out of the energy hole. It makes economic sense to not drill, but to conserve.. It is always cheaper to not use the oil, forever, than to buy it a little cheaper for 10 years. Plus, after 10 years, then what?
The 'C' in OPEC stands for Countries. There are no multinationals in OPEC, only countries. Gardener, you are lecturing us with facts you just made up on the spot Bush's buddies like Chavez and Ahmadinehad? Yeah that makes sense. It doesn't matter much anyway, not all oil producing countries are in OPEC, only some. Any OPEC members are notorious for cheating on their production quotas, especially when prices are falling.
............................................................................................... When The Greatful Dead added on that fifth concert at Madison Square Garden, it crashed the prices that the ticket scalpers were asking. even though the supply of tickets was only increased by a slight margin. The same pricing mechanisms apply accross all types of commodities. Drilling ANWR will NOT solve all of our energy problems, but it will help somewhat. It does not take a whole lot of oil to affect price a big amount. If some Capitalist wants to roll the dice and prospect for oil, what the heck? Let him invest his money. People in Alaska seem OK with it. I am constantly hearing about the need to acknowledge Science. Science in Global Warming, Science in Evolution, Science in Stem Cell Research! How about some science in oil drilling. Processes have advanced since Santa Barbara 1969. All we are saying is give drilling a chance!
