Energy Insanity

[kach22i]

Just when you thought it was impossible, Cheney energy schemes get even worse
http://www.workingforchange.com/article.cfm?itemid=18800

Ponder this: Next year, the administration will phase out the $2,000 tax credit for buying a hybrid vehicle, which gets over 50 miles per gallon, but will leave in place the $25,000 tax write-off for a Hummer, which gets 10-12 mpg. That's truly crazy, and that's truly what the whole Cheney energy policy is.

[Moneyguy1]

Lines from the 1965 movie "It's a Mad Mad Mad Mad World" theme:

"Our traffic is so congested, Mass confusion on wheels

But Detroit is adroit what they'll do in Detroit

is build bigger automobiles"...

The more things chgange, the more they stay the same..

Yup;; the administration is right there to help the economy..yup..yup..

[RickM]

Let's throw some gasoline on the fire...

"LONDON (Reuters) - Oil hurtled back up to $56 a barrel on Thursday as Goldman Sachs bank, the biggest trader of energy derivatives, said prices could ultimately surge all the way above $100."

http://news.yahoo.com/news?tmpl=story&u=/nm/20050331/bs_nm/markets_oil_dc_16

[kach22i]

Originally posted by RickM
Let's throw some gasoline on the fire...

"LONDON (Reuters) - Oil hurtled back up to $56 a barrel on Thursday as Goldman Sachs bank, the biggest trader of energy derivatives, said prices could ultimately surge all the way above $100."

http://news.yahoo.com/news?tmpl=story&u=/nm/20050331/bs_nm/markets_oil_dc_16

SUPER SPIKE ................................?
http://yahoo.reuters.com/financeQuoteCompanyNewsArticle.jhtml?duid=mtfh5486 4_2005-03-31_15-27-55_l31481930_newsml

"We believe oil markets may have entered the early stages of what we have referred to as a "super spike" period -- a multi-year trading band of oil prices high enough to meaningfully reduce energy consumption and recreate a spare capacity cushion only after which will lower energy prices return," Goldman's analysts wrote.

ALL THEY SAY IS THAT THE SUPER-SPIKE COULD LAST YEARS!!!!!!!!

[gaijindabe]

Why do we need social engineering tax breaks to buy a fuel efficient car? You dont like the price of gas, go buy one. As for the Hummer, it fits under a loop-hole. It is basically big enough to be a commercial vehicle. But you still have to gas the thing up..

[kach22i]

Yes, yes, yes gaijindabe - the super-spike shall prove you to be correct. All we need is a huge energy cost increase for a little global course correction, recession and God knows what else.

[Moneyguy1]

gaij:

Are you becoming the new self appointed contrarian?

[gaijindabe]

Does that mean I support Central American rebels??

I came of age in the '70s, its like I have seen all this before.. Supply is close to demand - and all we need is revolution or an embargo or a war to break out for things to get real crazy..

But the world will adapt, adjust. Industry, homes and transportation will become more efficient, those silly SUVs will become unfashionable..

[kach22i]

Originally posted by gaijindabe

But the world will adapt, adjust. Industry, homes and transportation will become more efficient, those silly SUVs will become unfashionable..

...........................and the Pinto, Vega and Gremlin shall rule the roads once more.

[Superman]

Originally posted by gaijindabe
Does that mean I support Central American rebels??

I came of age in the '70s, its like I have seen all this before.. Supply is close to demand - and all we need is revolution or an embargo or a war to break out for things to get real crazy..

But the world will adapt, adjust. Industry, homes and transportation will become more efficient, those silly SUVs will become unfashionable..

In other words, the world will eventually overcome the damage Dick and George inflict. I agree, but this is a pathetic defense.

[speeder]

The bottom line, (the thing that you should always watch), is that anyone in the oil business is going to be having a previously unfathomably profitable time at the expense of the rest of the world's economy. Inflation will be at previously unheard of levels, and money for anything other than oil/energy will be in short supply for governments and individuals from the federal down to the munincipal level.

Welcome to the age of scarcity. This going down in history as the incredible accelleration of some pre-existing negative trends due to inept leadership at the highest levels. Ralph Nader will go down finally as one of the most significant players in the history of the world.

[Superman]

I'm laughing out loud at the thought I just had. The cons have been trying, hoping, to get us libs to admit that Dubya has been some sort of effective genius. Is that a riot or what?

[mikester]

Typical of "working for change" they don't show the entire story.

I think that the original tax exemption was provided to last until 2004 and was actually extended at the $2000 amount for 2005. In 2006 it will go down to $500 and in 2007 it will no longer be available. The only mention of Bush or Cheney regarding this is subjective in that the exemption was extended as part of the administrations entire tax relief program. So - maybe they should get credit for that? (Oh - and don't forget - I hate these guys. )

So...that's that - well - no - there's more entirely. Just because the Federal exemption is going away doesn't mean there aren't more incentives out there. I believe that many states exempt these autos from Sales taxes at the time of purchase. CT and Montana show up with a quick google search. Many other states provide HOV lane access to these vehicles (which is in my opinion the wrong thing to do) with a single passenger.

Why shouldn't hybrid cars be in the HOV lane with a single passneger? Because they get their worst efficency at higher speeds. Stop and go is where they shine so that is where they should be - giggle.

-Speeder; The Nader comment was a blast.

[dafischer]

Originally posted by RickM
Let's throw some gasoline on the fire...

"LONDON (Reuters) - Oil hurtled back up to $56 a barrel on Thursday as Goldman Sachs bank, the biggest trader of energy derivatives, said prices could ultimately surge all the way above $100."

Oh, gee...I wonder if Goldman Sachs made any money on the run-up after that little bit of prognostication.

Scumbags.

[kach22i]

FYI: I think this Tuesday night PBS is lookng into Mr. Rove, should be interesting.

Back to energy, here is an interesting website:

http://www.lifeaftertheoilcrash.net/

In May 2004, Simmons explained that in order for demand to be appropriately controlled, the price of oil would have to reach $182 per barrel. With oil prices at $182 per barrel, gas prices would likely rise to $7.00 per gallon.

If you want to ponder just how devastating oil prices in the $200 range will be for the US economy, consider the fact that one of Osama Bin-Laden’s goals has been to force oil prices into the $200 range.

http://www.nationalreview.com/robbins/robbins200406020835.asp

To be fair, al Qaeda doesn't really want us to stop buying Saudi oil, just to stop stealing it. Osama bin Laden has argued that the price of petroleum — even at $40 barrel — is so low as to constitute extortion. It is kept at this artificially deflated price through U.S. coercion and Saudi complicity. Osama argues that the fair price of oil is somewhere above $200/barrel.

http://www.nationalreview.com/robbins/robbins200406020835.asp

By attacking energy sources al Qaeda is hitting two targets. First, they are attempting to damage our economy. Osama bin Laden stated in December 2001 that incapacitating the U.S. economy should be the primary objective for al Qaeda fighters, and disrupting the oil market is a form of flank attack. This is not to say that they might not also target the homeland — note the recent threat alert directed to U.S. oil and natural-gas terminals, processing facilities, and pipelines. However, attacks on the global energy infrastructure are likely to have more lasting effects on the economy than dramatic 9/11-style operations, and are easier to pull off. The physical damage they can inflict is less important than the fear they can promote in the marketplace — which leads to higher prices without keeping a single barrel of oil off the market. Furthermore, they not only hope to send our economy into recession (though no sign of a slowdown yet) but create a crisis of confidence in the political leadership.