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OIL PSYCHOLOGY 101:
See http://www.nytimes.com/2008/08/12/opinion/12herbert.html?th&emc=th:
According to Bob Herbert, unofficial staffer for Obama (http://www.cheatseekingmissiles.com/2008/08/05/time-to-fire-bob-herbert/), here is “what the Energy Information Administration, the statistical agency that provides official data for the federal government, had to say about the anticipated additional output from offshore drilling:
“Because oil prices are determined on the international market ... any impact on average wellhead prices is expected to be insignificant.””
COMMENT: Well, there is short term and long term. It is a no-brainer that, if the only thing we did was to authorize additional offshore drilling, such would not much impact prices over the long term. However, Mr. Herbert, (1) the present concern is with the short term, and (2) the cumulative effect of a number of efforts on a number of fronts would enhance our energy independence. Efforts by Democrats to shut down all such efforts just shows how hopelessly ridiculous they and their mouthpieces are.
WITH ALL DUE RESPECT:
Fuel prices are not determined in a market among arms-length competitors. Rather, blocs, nations, oligarchies, and extremely large companies all play arm-twisting roles in speculating about, and setting, the price of fuel.
Such speculations are not “simplistically rational,” but (employing David Brooks' recent terminology) are much influenced by political winds, which are much influenced by mass psychology, emotional contagions, priming effects, and inter-permeable neural firings. (Don’t Democrats get “nuance” and the power of will?)
Democrats spit in the wind of common sense when they assert that current fuel prices are not affected by publicity about long term drilling and development plans.
Do they not understand that Big Interests and companies diversify risk portfolios? Suppose you were sitting on huge, already developed stores of oil, and the political game hints at possibilities of sky high prices. Would you bring all your stores to current market? No. You would bring some to short-term market and play some to the speculative market.
How much one plays and speculates is affected by one’s psychological perceptions of currents of political will.
For Democrats to try to sell to the American people the nonsense that authorizing increased drilling does not affect present fuel prices is bullsh*t!
Although we have no choice but to play house with Democrats, we can at least demand that Democrats clean up after their own crap.
Update: See http://www.americanthinker.com/blog/2008/08/pelosi_now_wants_vote_on_offsh.html.
LONG TERM:
Develop alternative energy sources; empower middle class to produce and work from home; incentive mass transit; work world wide to apply intelligent tax measures to encourage reduction to only that level of population that is reasonably sustainable.
OIL PSYCHOLOGY 101:
See http://www.nytimes.com/2008/08/12/opinion/12herbert.html?th&emc=th:
According to Bob Herbert, unofficial staffer for Obama (http://www.cheatseekingmissiles.com/2008/08/05/time-to-fire-bob-herbert/), here is “what the Energy Information Administration, the statistical agency that provides official data for the federal government, had to say about the anticipated additional output from offshore drilling:
“Because oil prices are determined on the international market ... any impact on average wellhead prices is expected to be insignificant.””
COMMENT: Well, there is short term and long term. It is a no-brainer that, if the only thing we did was to authorize additional offshore drilling, such would not much impact prices over the long term. However, Mr. Herbert, (1) the present concern is with the short term, and (2) the cumulative effect of a number of efforts on a number of fronts would enhance our energy independence. Efforts by Democrats to shut down all such efforts just shows how hopelessly ridiculous they and their mouthpieces are.
WITH ALL DUE RESPECT:
Fuel prices are not determined in a market among arms-length competitors. Rather, blocs, nations, oligarchies, and extremely large companies all play arm-twisting roles in speculating about, and setting, the price of fuel.
Such speculations are not “simplistically rational,” but (employing David Brooks' recent terminology) are much influenced by political winds, which are much influenced by mass psychology, emotional contagions, priming effects, and inter-permeable neural firings. (Don’t Democrats get “nuance” and the power of will?)
Democrats spit in the wind of common sense when they assert that current fuel prices are not affected by publicity about long term drilling and development plans.
Do they not understand that Big Interests and companies diversify risk portfolios? Suppose you were sitting on huge, already developed stores of oil, and the political game hints at possibilities of sky high prices. Would you bring all your stores to current market? No. You would bring some to short-term market and play some to the speculative market.
How much one plays and speculates is affected by one’s psychological perceptions of currents of political will.
For Democrats to try to sell to the American people the nonsense that authorizing increased drilling does not affect present fuel prices is bullsh*t!
Although we have no choice but to play house with Democrats, we can at least demand that Democrats clean up after their own crap.
Update: See http://www.americanthinker.com/blog/2008/08/pelosi_now_wants_vote_on_offsh.html.
LONG TERM:
Develop alternative energy sources; empower middle class to produce and work from home; incentive mass transit; work world wide to apply intelligent tax measures to encourage reduction to only that level of population that is reasonably sustainable.
2 comments:
From http://www.washingtonpost.com/wp-dyn/content/article/2008/08/07/AR2008080702900.html :
Democrats have been adamantly opposed. They say that we cannot drill our way out of the oil crisis. Of course not. But it is equally obvious that we cannot solar or wind or biomass our way out. Does this mean that because any one measure cannot solve a problem, it needs to be rejected?
....
Congressional Democrats demand instead a clampdown on "speculators." The Democrats proposed this a month ago. In the meantime, "speculators" have driven the price down by $25 a barrel. Still want to stop them? In what universe do traders only bet on the price going up?
....
The problem for the Democrats is that the argument for "do everything" is not rocket science. It is common sense. Which is why House Speaker Nancy Pelosi, surveying the political rubble resulting from her insistence on not even permitting drilling to come to a floor vote, has quietly told her members that they can save their skins and vote for drilling when the pre-election Congress convenes next month.
Regarding ANWR:
See http://reasonbellpundit.blogspot.com/2008/06/pictures-of-anwr-to-make-case-for.html.
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