Baseball91's Weblog

August 12, 2008


Filed under: Business,Current Affairs,Media,Minnesota,MN,news,newspapers,on politics — baseball91 @ 4:06 AM
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These presidential candidates who were running for president reminded me a lot of my car mechanic who couldn’t repair my brakes, so he made my car horn louder.  The truth was the oil situation could not be fixed in Washington.  For all this attention, 16% of our oil comes from the Persian Gulf—AND 50% from the western hemisphere.


Even if America was energy independent, the cost of oil was not coming down.  Off-shore oil was not going to going into some kind of American oil reserve, if approved.  Off-shore oil drilling was solely an issue of profit and loss for oil companies.  Stock companies did not pander to nationalistic issuues except to lobby politicians.  And no one was suggesting that an oil company here be nationalized. 


The cost of a barrel of oil was not so much an issue to whom the Arabs were selling their oil.  The discussion about oil should be on the supply of autos, of the additional 330 million cars in the world compared to 15 years ago, with growing economies that were booming when ours was not.  With a world population that was increasing, the demand was bound to increase.


In some part of the world this summer, there were food riots over the increased cost of food.  In the developed world the vocal riots were over the price of gasoline. 


Life was all about appetites.  Oil was the drink for our cars.  And oil was gonna be a lot like health care in the 21st Century, available for those who could afford it. 







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