Tankoshpere Today: July 11, 2008
Posted July 11th, 2008 at 3.30pm in Tankosphere.
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How Oil Prices Could Collapse - Pajamas Media
Do you think $140 a barrel is insane? Last week the president of OPEC Chakib Khelil predicted…
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EPA Greenhouse Gas Proposal Due; Will the Public Have a Say? - Shopfloor.org
This afternoon the Environmental Protection Agency will release the Advance Notice of Proposed Rulemaking seeking information with which to develop (or not) regulations to control greenhouse gas emissions…
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Rethinking the Goals of a National Mortgage Bailout - Redstate
Front and center this week have been the ill fortunes of Fannie Mae and Freddie Mac, the government-sponsored enterprises (GSEs) that together own trillions of dollars’ worth of US home mortgages…
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My Country, ‘tis of Thee, Knows Little About Liberty - Adam Smith Institute
This week’s Economist contains some sad figures about my home country, the United States. Only one third of Americans believe free-trade agreements are good for the economy…
- Author: Todd Thurman
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July 12, 2008 Darvin Dowdy, Houston, TX writes:
Oil Prices Could Collapse: Certainly possible. Especially as soon as Obama gets elected as POTUS. Most likely it’ll happen. Opec will have accomplished its mission and re-open up the spigot in this super-heated, global oil market. And if the U.S. tools up and starts drilling one has to know that Opec will intentionally increase production more so for the purpose of driving the price down. Just to make our U.S. domestic oil production no longer profitable. This is the brutality of the free, wide open global oil markets.
That being said, we should drill. We must shoot for a goal of producing 75-85% of our own oil within the next 10-15 years. We’d be foolish not to pull that God given resource out of the ground and sell it while its still valuable.
And we must recognize the hard fact of manipulation by the Opec Ministers. And the fact that this manipulation is starting to effect our economy in a much more serious way. Its gone on way too long. An economic attack can be just as devastating to a nation as a military attack. This is an attack and we must find a way to effectively combat it. Darvin Dowdy