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Re: Credit and gas-NTR
Posted By: Wayne Fisher In Response To: Re: Credit and gas-NTR (ae)
Date: Wednesday, 7 May 2008, at 4:08 p.m.
Guys, i know I'm one of the worst at not sticking strickly to commods...but just about everything poltical like this does affect the commod markets...the inane ethanol debacle, unfolding in front of our very eyes, being the most recent and glaring example.
We are using 30 percent of the corn crop to attempt to get gas to 10 percent ethanol. The immediate goal by the "use food for fuel" gang is to achieve 30 percent ethanol in the gas. You do the math...oh yea...the farmers are having trouble getting corn in the ground cause old mother nature aint cooperating...like she is pron to do...what happens if a severe drought hits?
As to this "we are the problem" gang's theory that we are burning too much fuel...your assumption that it is a demand problem is 180 degrees out of phase with reality. The reality is...you nor anyone else knows how much crude is available for use...you do not know that we are running out...and you do not know that burning petroleum harms the enviornment or effects the climate.
The facts are...1)it is estimated by industry experts(not hollywood actors) that there is a 200 year supply of known oil in the ground...2) our poloticians(at the behest of the communist greenies) are deliberately keeping us from drill for this oil(Anwar and offshore(while China,on Cuba's behalf, and Mexico are drilling closer to our shores than we can))...3) We have not been allowed to build a new refinery in 30 years because aforementioned communist greenies have seen to it that building a new refiner is cost prohibative due to excessive enviornment regulations...all the while the refineries are being unbelievaly burdened with boutique blends of gasoline.
you are correct on one thing...we are spoiled and we do have a short memory...we are spoiled because we refuse to exert the energy necessary to learn the facts about such matters and we want others to think for us...we also must have forgotten how badly Carter and the Dems handled the last gas situation...they appear to be ready to attempt the same failed polocies and we appear to be ready to let them do it.
Lets do a little drilling and build some refineries and we can continue to drive big safe automobiles and get to work so the economy will grow.
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