News Item: Oil prices fall, but gas prices? No such luck
(Category: ZZZ-Misc)
Posted by Toddy Littman
Saturday 14 May 2011 - 12:01:06
Have you been paying attention to oil prices since Osama bit the big one? It’s interesting to observe the roller coaster ride this last week with oil’s high of $125 a barrel, dropping to a close of $97 by Friday, and still the price at the pump held steady at anywhere from $3.80 to $4.30 depending on which of the lower forty-eight you call home.
What’s fascinating is the fact that a barrel price high of $147 was reached in 2008 http://m.cnbc.com/us_news/42928363, yet the price of gas at that time leveled off around $3.65 a gallon. http://www.usatoday.com/money/industries/energy/2008-05-08-gasprices_N.htm
How is it that with the price of oil now a good $50 per barrel less than the 2008 peak, gas was still the same price or lower than it is now? Some of it may have to do with the flooding of cash into the economy by the Fed via the “quantitative easing,” but it still causes one to wonder about the inflated price at the pump.
According to Goldman Sachs, this price dip will only last a short time and then will once again “skyrocket” in 2012 (to use Obama’s preferred terminology). http://ca.news.yahoo.com/oil-steadies-10-percent-drop-181035172.html
Who’s fueling the up and down scenario? First the crisis flaming across North Africa (Tunisia, Egypt, Libya…) was given as the rationale for the huge rises in gas prices, and naturally, Americans began to wonder when it will stop, particularly since the Obama government-orchestrated tightening of supply is the major culprit. These other excuses are just that, excuses for stripping Americans of every possibility to provide for themselves. For, on top of these, Obama has called for rescinding oil company tax credits, which he called “subsidies,” as though taxing oil companies more is going to lower gas prices? Let’s get real here.
There are those economic sages, however, who are watching certain commodities take a dive, with a particular eye on copper as the bellweather, http://www.cnbc.com/id/42921284. Their realistic and knowledgeable position is that the industrial importance of copper far outweighs that of silver and gold, both of which are used more and more as serviceable repositories for wealth, being alternative currencies, in a manner of speaking. Copper, as a necessary metal in manufacturing everything from homes (plumbing) to conductive uses in electronics, is considered more indicative of a slide in overall economic fortunes. Oil, on the other hand, holds a place in the market as a commodity and an essential fuel for all industries, as every one is dependent on transport of components, personnel and products, none of which can be accomplished without fuel. The difference seems to be that copper doesn’t appear to have so volatile a market base as oil, which (we’re told) is affected by every burp in the environment and Middle East politics.
Appearances aren’t everything, however, particularly should one bother to investigate the big owners in worldwide mining operations, individuals such as the world’s wealthiest man, Carlos Slim (copper – Nacrobre industries), and George Soros, both of which have been selling off silver, taking huge profits.
Soros’ interests don’t stop with the silver divestiture, he is delving ever deeper into gutting conventional energy development. The most recent foray being investment in green tech growth capital, Silver Lake Kraftwerk, http://finance.yahoo.com/news/Silver-Lake-to-Launch-New-bw-1055941382.html?x=0&.v=1 that benefits from U.S. government subsidies and has hired an Obama energy “under-czar” Cathy Zoi. http://washingtonexaminer.com/blogs/beltway-confidential/2011/02/new-soros-hedge-fun-profiting-obamas-green-energy-push-hires-top-
Given all these tidbits, add in the numbers we've been supplied regarding the “boost” to the U.S. economy by 244,000 jobs last month. How is this read as bump up in the economy when the unemployment rate jumps with it, back up to 9%? Are you as confused as I?
We are expected to swallow the line that the turmoil in the world is the cause behind the up and down spikes in oil prices, and even the supposedly coming temporary fall, which, historically speaking, will hardly affect the cost at the pump. In point of fact, most of us are not accepting the president’s line that now is the time to embrace “green” technology reiterated while he visited an Indiana transmission factory that received stimulus funds. http://kokomotribune.com/local/x340278524/Obama-Green-technology-a-must
The “green energy” push is doing little more than subsidizing otherwise inefficient technology while creating bonus profits to big funders that have no concern for Americans in dire straits, let alone the rest of the world. So, no… keep the government’s hands off the oil company tax credits which helps to bring new oil to market, particularly in light of crude oil being a renewable resource. http://changingwind.org/index/comment.php?comment.news.144.
This administration must halt its forward march of creating enemies for political points while sacrificing the needs of Americans. Frankly, the people’s call must reach clamorous levels to force the president to back off his crippling economic and energy strategy and get out of the way of domestic job and oil production.
Can you think of a better way of easing the “crisis?” Neither can I.
A. Dru Kristenev
changingwind@earthlink.net
A. Dru Kristenev is a citizen of the great Northwest United States, former journalist and author of the Baron Series, novels of political intrigue, world markets and presumptive power brokers based on research of the underpinnings of real-time political and global financial maneuvering, and who’s instigating it.
Visit www.changingwind.org for news links and insightful postings by a legal researcher as Toddy Littman, “Gold Baron” character, who reappears in the new sequel “Energy Barons.” You can also find Toddy on twitter "@ToddyLittman" or http://twitter.com/?_twitter_noscript=1#!/ToddyLittman
Watch for the upcoming publication of “Land Barons” (New Patriot Publishing), which introduces the very premise that we see unfolding before our eyes… the sacking of America.
This news item is from ChangingWind.Org
( http://changingwind.org/rename/news.php?extend.167 )
(Category: ZZZ-Misc)
Posted by Toddy Littman
Saturday 14 May 2011 - 12:01:06
Have you been paying attention to oil prices since Osama bit the big one? It’s interesting to observe the roller coaster ride this last week with oil’s high of $125 a barrel, dropping to a close of $97 by Friday, and still the price at the pump held steady at anywhere from $3.80 to $4.30 depending on which of the lower forty-eight you call home.
What’s fascinating is the fact that a barrel price high of $147 was reached in 2008 http://m.cnbc.com/us_news/42928363, yet the price of gas at that time leveled off around $3.65 a gallon. http://www.usatoday.com/money/industries/energy/2008-05-08-gasprices_N.htm
How is it that with the price of oil now a good $50 per barrel less than the 2008 peak, gas was still the same price or lower than it is now? Some of it may have to do with the flooding of cash into the economy by the Fed via the “quantitative easing,” but it still causes one to wonder about the inflated price at the pump.
According to Goldman Sachs, this price dip will only last a short time and then will once again “skyrocket” in 2012 (to use Obama’s preferred terminology). http://ca.news.yahoo.com/oil-steadies-10-percent-drop-181035172.html
Who’s fueling the up and down scenario? First the crisis flaming across North Africa (Tunisia, Egypt, Libya…) was given as the rationale for the huge rises in gas prices, and naturally, Americans began to wonder when it will stop, particularly since the Obama government-orchestrated tightening of supply is the major culprit. These other excuses are just that, excuses for stripping Americans of every possibility to provide for themselves. For, on top of these, Obama has called for rescinding oil company tax credits, which he called “subsidies,” as though taxing oil companies more is going to lower gas prices? Let’s get real here.
There are those economic sages, however, who are watching certain commodities take a dive, with a particular eye on copper as the bellweather, http://www.cnbc.com/id/42921284. Their realistic and knowledgeable position is that the industrial importance of copper far outweighs that of silver and gold, both of which are used more and more as serviceable repositories for wealth, being alternative currencies, in a manner of speaking. Copper, as a necessary metal in manufacturing everything from homes (plumbing) to conductive uses in electronics, is considered more indicative of a slide in overall economic fortunes. Oil, on the other hand, holds a place in the market as a commodity and an essential fuel for all industries, as every one is dependent on transport of components, personnel and products, none of which can be accomplished without fuel. The difference seems to be that copper doesn’t appear to have so volatile a market base as oil, which (we’re told) is affected by every burp in the environment and Middle East politics.
Appearances aren’t everything, however, particularly should one bother to investigate the big owners in worldwide mining operations, individuals such as the world’s wealthiest man, Carlos Slim (copper – Nacrobre industries), and George Soros, both of which have been selling off silver, taking huge profits.
Soros’ interests don’t stop with the silver divestiture, he is delving ever deeper into gutting conventional energy development. The most recent foray being investment in green tech growth capital, Silver Lake Kraftwerk, http://finance.yahoo.com/news/Silver-Lake-to-Launch-New-bw-1055941382.html?x=0&.v=1 that benefits from U.S. government subsidies and has hired an Obama energy “under-czar” Cathy Zoi. http://washingtonexaminer.com/blogs/beltway-confidential/2011/02/new-soros-hedge-fun-profiting-obamas-green-energy-push-hires-top-
Given all these tidbits, add in the numbers we've been supplied regarding the “boost” to the U.S. economy by 244,000 jobs last month. How is this read as bump up in the economy when the unemployment rate jumps with it, back up to 9%? Are you as confused as I?
We are expected to swallow the line that the turmoil in the world is the cause behind the up and down spikes in oil prices, and even the supposedly coming temporary fall, which, historically speaking, will hardly affect the cost at the pump. In point of fact, most of us are not accepting the president’s line that now is the time to embrace “green” technology reiterated while he visited an Indiana transmission factory that received stimulus funds. http://kokomotribune.com/local/x340278524/Obama-Green-technology-a-must
The “green energy” push is doing little more than subsidizing otherwise inefficient technology while creating bonus profits to big funders that have no concern for Americans in dire straits, let alone the rest of the world. So, no… keep the government’s hands off the oil company tax credits which helps to bring new oil to market, particularly in light of crude oil being a renewable resource. http://changingwind.org/index/comment.php?comment.news.144.
This administration must halt its forward march of creating enemies for political points while sacrificing the needs of Americans. Frankly, the people’s call must reach clamorous levels to force the president to back off his crippling economic and energy strategy and get out of the way of domestic job and oil production.
Can you think of a better way of easing the “crisis?” Neither can I.
A. Dru Kristenev
changingwind@earthlink.net
A. Dru Kristenev is a citizen of the great Northwest United States, former journalist and author of the Baron Series, novels of political intrigue, world markets and presumptive power brokers based on research of the underpinnings of real-time political and global financial maneuvering, and who’s instigating it.
Visit www.changingwind.org for news links and insightful postings by a legal researcher as Toddy Littman, “Gold Baron” character, who reappears in the new sequel “Energy Barons.” You can also find Toddy on twitter "@ToddyLittman" or http://twitter.com/?_twitter_noscript=1#!/ToddyLittman
Watch for the upcoming publication of “Land Barons” (New Patriot Publishing), which introduces the very premise that we see unfolding before our eyes… the sacking of America.
This news item is from ChangingWind.Org
( http://changingwind.org/rename/news.php?extend.167 )