Tuesday, March 11, 2008

Oil Prices Are Not Going To Improve

One thing is for sure; oil prices are not likely to improve with the next President. None of the three candidates have been willing to discussed the issue in detail. As this article from Michael J. Economides describes:

The first proof of trouble to come is that none of the three US presidential candidates, Senators John McCain, Barack Obama and Hillary Clinton, have paid much attention to the fact that oil, gas and coal -- the sources that provide 87% of US energy – can, through better use of the latter two can be taken advantage of to help free us from the “tyranny of oil.” Their lack of interest is breathtaking considering that whoever gets elected will probably be confronted with $120 per barrel oil.

The candidates have mentioned energy occasionally but their preciously rare pronouncements contain only the trite mantras of conservation (something that has never played any major role in US total energy demand), the most unrealistic “alternatives” such as solar and wind and the negative-energy-balance biofuels. They have talked about technology and used allegories of sending a man to the moon, but no one showed how technology, admirable as it may be, can break the basic laws of thermodynamics: energy cannot be generated from nothing.

Second proof -- even more daunting -- is that all candidates have been Gored, accepting the most outlandish and easily discountable environmental gobbledygook and alarmism as facts and all have promised “solutions” to global climate change, carbon dioxide emissions reduction and the clearly whimsical carbon trading. The most radical and preposterous environmentalist ideologies of yesteryear have been mainstreamed, endowed with neckties and pantsuits.

Read the rest at the link.

He is saying what I have been saying for a while. We need to aggressively pursue the use of our own resources.

In the article he states that drilling in ANWR would lower oil prices by at least $25 a barrel. I think it would be a lot more than that.

Our economy is showing serious signs that the current slowdown will continue. A big part of this is the mortgage crisis. But the rise in oil prices is also contributing to this mess. The Gore bots deserve their fare share of the blame also. With the cost of food rising because of ethanol production (which is actually worse for the environment than using oil) we are shooting ourselves in the foot, in order to appease the "Global Warming/Climate Change" crowd.

The next President will not do anything to change the course we are on. Prepare for the cost of oil to continue rising.

What can be done to stop this? Elect someone who will roll up his/her sleeves and get to work on real solutions. Unfortunately we are going to have to wait till 2012 for the chance.

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