Money (It's a gas) -- Eddie Pedantic Gasbag Discussion Group

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Date Posted: 19:01:57 07/02/01 Mon
Author: gumtree
Subject: Money (It's a gas)

Dateline, Alaska
The recent lobbying effort in favor of "opening up" wilderness lands in Alaska is interesting, considering what has been done by the major multi-nationals with the current allowance. Here we sit, with Califonia virtually begging for natural gas to alleviate shortages. In the meantime, natural gas is being stored (really, re-interred is more accurate) in Alaska - being "pumped" from the ground and held - because THE PRICE ISNT HIGH ENOUGH. The vast pipeline built across Alaska to get oil to the coastline for shipment (via tanker) - it ONLY brings oil to Japan and Europe - again, the price isnt high enough here. Okay, so we're supposed to finance (through tax breaks and increased prices) further exploration and development of even LARGER natural gas/oilfields in Alaska - what for? To hold onto until the price goes up?
Dateline, Florida
Today, through some special toady deals with the President's brother, oil drilling off the coast of Florida has been allowed. Yes, "no one will ever see the derricks" because theyre about 100 miles out. Curious to mention, folks, a little "inside" info. When I was but a callow youth at GWU, I had a friend who an Economics TA - his family was heavily involved in the oil industry in Louisiana (for those of you without a map, both Florida and Louisiana shore on the same body of water, the Carribean Sea). We were in the midst of the First "Oil Crisis" He revealed to me and a few others, after a few beers, that there were literally dozens of wells capped in the Carribean, waiting for prices to go up. He made clear that the amount of oil we were talkin about rivaled Kuwait. I really don't think there will be any DRILLING in the Carribean, just tapping whats been known about for years, waiting for the price to reach a certain level.
Dateline, OPEC
Very quietly, several OPEC countries met recently to agree to cut back on production yet again, as prices were falling, yet again. These agreements are usually not worth the paper theyre written on, as if you get your competitor to slow production, you can increase your production but the price is held up (for a short time). In the meantime, our gas pump prices went up...about 25-30% in some areas. Why?
Dateline, TracAuto
Check this out yourself - go to your local purveyor of auto parts. Has the price of a quart of oil (the kind you put in the engine of your car) gone up? NO. It's actually gone down, as the price has stayed about the same for several years of inflation. Why?

More energy efficient power plants and cars are certainly desirable - because in using less fuel, they pollute less. This is not desirable to the moneyed interests - using less fuel means less money. How to solve this? Lower the price for a (relatively) short time, get folk back into Major Consumption (large vehicles), then create a shortage. Raise the price. Discourage building new (and more efficient) power plants (look closely at who funded the anti-power plant movement in CA - it isnt the Sierra Club). Take your profits, and invest in the means of power production, invest in anything that aint oil. Look at what Exxon owns nowadays - amusement parks, real estate, convenience stores.

What do you do about it? Write your Representatives in Congress. Let them know you're concerned. Consume less - combine trips in the car, turn lights off when you're not in the room...pretend there's a shortage. Above all, think.

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