American Energy Policy
June 24, 2008 | Permalink
Spot on once again.
Posted by: Thomas Blair | Jun 24, 2008 8:21:28 PM
A quick and dirty assessment of the U.S. energy policy has been to purchase as much of the oil from OPEC nations as possible and save domestic inventories. This could provide us with several generations of fuel and allow an easier landing for reducing energy demands.
It appears that dishonesty between the OPEC nation’s leaders has keep the market flooded for several years and has afforded us cheaper gasoline price. The (barrels) production of oil pledged by each country at their annual meeting has been historically violated by producing more than they said they would and keep the world market over supplied.
The public fully expected the big oil companies with massive profits (2007-2008) to invest and develop alternative energy sources but this never happened. They had a congressional hearing about excess profits but no one could define it.
Posted by: High | Jul 5, 2008 8:41:27 AM
Hey genius, if oil were "over-supplied" then people would stop buying it rather than keep buying more, using more electricity, and taking longer and more frequent family vacations (also known as "increasing demand" in the economics world).
What you're describing is "price fixing" an unethical practice to artificially inflate prices by creating scarcity. A practice attempted by the agricultural industry during the great depression by plowing under fields of crops. Prices remained high while people who couldn't afford the prices starved. Most competent economists agree the depression drug on much longer as a result.
Both the oil shortage and cheap clean "alternative energy" are a myth.
Posted by: RKeech | Oct 11, 2008 2:42:45 AM
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