You are probally right. I think bush will be a major player in the oil industry when he leaves office. I hope it is short-lived with the advance of alternative fuel and electric cars.
George Bush is worth between $9 million to $26 million When he left the White House in 2000, Bill Clinton reported assets of more than $1 million and legal fees of more than $2.4 million. In his wife's most recent disclosure, Hillary Clinton reported that the couple now has a net worth estimated at between $17.4 million and $53.7 million. http://www.bloomberg.com/apps/news?pid=20601070&sid=aGwhTXxfCSHo&refer=home
what can we do to reduce te price . stop the speculative market. http://www.cbsnews.com/stories/2008/06/17/broadcasts/main4188620.shtml?source=RSSattr=HOME_4188620
After Hurricane Katrina ripped through the oil rigs in the gulf of Mexico there was not one oil spill from them. Technology and safety has greatly increase in the years aftere Exxon Valdez
If it was really about a speculative market then where is the excess supply of oil being dumped on the market to take advantage of the speculative price? In the dot.com bubble there were 100s of companies that came to market that really did nothing but were worth billions of dollars. In the housing bubble, home builders built millions of extra homes that no one needed. If you think this is because of speculative pricing then where is the huge supply of oil to take advantage of oil prices. In the last year the price of oil has doubled while the demand in the US has only gone down 1%
A viable alternative fuel is years away, and the electric car sounds great but where will the electricity come from to fuel the cars? From the current power plants and grid system which is over extended as it is.
I think now is the perfect time to build new power plants. We really need to push for advances in solar, wind and hydro. My area has the cheapest or some of the cheapest energy in the nation and the local power company does some amazing things to push conservation. They have giving away a dozen new bulbs to each person on the grid. They use methane gas from a solid waste site to produce electricity. They also have put solar panels on a variety of structures and lecture often that each person should produce part of their electricity. They are in the process of designing a wind farm off the cost to produce power. The Power Company is a co-op and uses coal, hydro and nuclear to produce power. The company sells up to 35% of the energy it produces to other parts of the nation. They also have plans to build a new coal plant and the construction should start within the next year. We are under capacity but looking to build for the future. If each person of the nation would be proactive with solar and other forms of electricity we could generate enough electricity cheaply to have all electric autos. We need to move away from using oil to fuel autos. Its not just the government responsibility to be proactive but its up to each individual to get it started. I am in the process of installing solar panels. I estimate it will take 8 years to break even on the investment.
No its a co-op owned by each person that has a power bill. It's several if not all the powerplants looped together in South Carolina.
I think it is about $30 of it can be contributed to the speculative trade. and it is not just oil. http://money.cnn.com/2008/05/20/news/economy/senate_commodities/index.htm?postversion=2008052010
If there was enough supply commodity without inflation pressures prices would come down. Everying is up - corn, wheat, soybeans, gold, oil, coffee - you name it.
dollar is going down. RE is in a bad shape and stocks is kind of steady so nothing else is left to invest in. this is another big shift of wealth from middle class to the rich.
I think we need to put a LOT more energy into hybrid cars, the lithium ion battery (that is in the works for powering hybrid cars that will put MPG to 120+) etc. I don't think we should be drilling off-shore for oil. We need to find alternative solutions instead of oil. That's my opinion.
Well I find that offshore drilling should be prevented at all cost (cause of the environmental impact). As for Oil going up, I think the speculators on Wall Street should be kicked out cause its people like them who raise the price beyond what it should be.