Re: More Mea
Jib, supply is the real issue.
The other "problems" are mostly symptoms or conditions that don't help the issue of limited global supply and increased demand.
We've had huge disasters that will steepen the draw - China's not rebuilding itself with mud bricks and kerosene lanterns. On the other end of the pipeline, we can't refine everything we need once we get it here, whether it's selling at $55 or $105/barrel.
The Fed's real crime isn't simply the interest rate side of increasing inflation, it's the free money they've been and continue to dole out that's devaluing the dollar worldwide. That has to stop, but the new Fed is making Greenspan look like the Grinch instead of the Santa Clause he's been.
On top of the prospect of their grandchildren seeing a dwindling inheritence and other oil agenda items (Uncle Hugo, I'm looking at you), the world oil communities need to protect their resource by controlling the spigot and by getting their devalued dollar's worth. Sure there's plenty of oil out there for a very long time, but they're starting to look at the glass as half-empty.
A lot of this comes from the Paul Ryan Town Hall meeting in Janesville last night. The man is good, and his Roadmap for America could have been ripped from the pages of the BBA - flat tax, drill ANWR and other things I hope Wiggy opines about (he was there too).
This may have begun as a bubble, but now it's one with a noose around it, and we - the US - don't hold the rope. We provide the hemp.
The other "problems" are mostly symptoms or conditions that don't help the issue of limited global supply and increased demand.
We've had huge disasters that will steepen the draw - China's not rebuilding itself with mud bricks and kerosene lanterns. On the other end of the pipeline, we can't refine everything we need once we get it here, whether it's selling at $55 or $105/barrel.
The Fed's real crime isn't simply the interest rate side of increasing inflation, it's the free money they've been and continue to dole out that's devaluing the dollar worldwide. That has to stop, but the new Fed is making Greenspan look like the Grinch instead of the Santa Clause he's been.
On top of the prospect of their grandchildren seeing a dwindling inheritence and other oil agenda items (Uncle Hugo, I'm looking at you), the world oil communities need to protect their resource by controlling the spigot and by getting their devalued dollar's worth. Sure there's plenty of oil out there for a very long time, but they're starting to look at the glass as half-empty.
A lot of this comes from the Paul Ryan Town Hall meeting in Janesville last night. The man is good, and his Roadmap for America could have been ripped from the pages of the BBA - flat tax, drill ANWR and other things I hope Wiggy opines about (he was there too).
This may have begun as a bubble, but now it's one with a noose around it, and we - the US - don't hold the rope. We provide the hemp.
posted by Jane Bellwether @ 8:40 AM
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