Oil Prices Still Rise Despite Saudi Increase Promise: A Two-Sided Tale
(Note: In honor of recent attempts by some in Congress and the left-wing media to revive the Fairness Doctrine that would force talk radio networks to offer equal time to opposing viewpoints, this blog will be taking the preemptive step from when this law, if passed, will be expanded to web logs as well, as all freedom-curtailing efforts can not be confined to just one medium, and will therefore be allowing the opposition to voice their opinions in italics.)
Well gang, even after Saudi Oil Minister Ali al-Naimi promised to increase his country’s oil production, oil prices still increased to a record high today based on a weak dollar. That’s completely false. Oil prices are controlled by the Seven Sisters oil conspiracy, which, for some reason, only decided to start raising prices to extreme levels in the last five years. Besides, we should all just switch to ethanol. It will make us energy independent, just like Barack Obama promised!
Ahem. In any case, demand from China and India remains unabated, as well as other developing countries which account for the majority of increases in energy demand. Though while India has been forced to increase it’s country’s fuel prices, gasoline still remains heavily subsidized in the $2.30-per-gallon range. Wrong wrong wrong! It’s because of peak oil, global warming and 100 other politically correct bugaboos! Al Gore was right, and so was Vanity Fair! I only get my information from the best sources!
What my colleague here fails to recognize is that despite populist media, the U.S. is in a serious economic downturn, which, when mixed with the unfortunately simultaneous increase in energy demand abroad has led to record oil prices. That’s not what they said on “Saturday Night Live” and “The Daily Show!” I actually have comedians and celebrities to back up my views! What do you have? Nothing but economists and oil supply experts, I bet. I’m not listening to you! La-la-la-la-la-la-la!
In any case, the upcoming meeting lead by OPEC should address some of the concerns, and if our leaders are intelligent, they’ll take the appropriate measures and adjust our social and financial needs, encouraging the production of more fuel-efficient vehicles, increased production of oil and research into alternative energies that are actually feasible and reduce dependence on foreign energy supplies. No! I’m not finished yet! You can’t silence the truth! The Apollo moon landing was faked! 9/11 was an inside job! George Soros for president!
Yeah, whatever.
–Stephen Payne, Editor, Oil and Gas Investor This Week; www.OilandGasInvestor.com; spayne@hartenergy.com
You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
June 26th, 2008 at 7:46 am
FYI:This would be great!
Secretly behind closed doors the final resolutions are being put together to set the next phase of Energy Independence for the US.
This Month the motion is being put forth to set standards on auto production / numbers for alternative requirements for all Auto Manufactures selling Light Trucks and Cars in the US, a specific time line will be imposed on all. This will send significant waves through the Oil Market as need for crude oil will significantly be reduced / the US market could even at the 2025 Mark support its own demand.
2015 – 25% of all Light Trucks and Autos sold in the US must run on alternative fuels.
2020 – 50% -
2025 – 75% -
2030 – 95% -
Would not hold onto my Oil stocks too long!