He conveniently ignores that the USA's greed for/dependence on/love affair with oil drives the industry in the first place.
They say power corrupts etc.
Mini rant over.
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Oh oh oh Obama...
(13 posts) (8 voices)
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MrChigleysAunt
offlineMemberI wish I'd kept the quote I saw the other day from some Palinesque loon. It was along the lines of "this disaster in the gulf has only happened because Obama and other tree-hugging environmentalists have made it so difficult for us to drill for oil on land." Amazing.
Posted 2 years ago # -
Oxbridge
offlineMemberCan we get real? Obama is probably very aware of the need to reduce dependence on oil - even Dubya seemed to be on the verge of getting that - but he's not a miracle-worker and that isn't going to change overnight. The poor man still has to share a country with the Palin-esque loons.
Posted 2 years ago # -
Hunter F. Thompson
offlineMemberThe point of the currency crisis is that Iran and Latin American countries value their oil in "a basket of currencies" which includes the Euro. The point of "peak" oil is that it is worth more in the ground - leveraged - than it is at the pump. When oil is leveraged, derivatised, securitised and the money spent on other more interesting things,banks collect fees, and petrol prices stay high. When you take oil out of the ground you have to refine it - unless! - unless! - you lose it at sea until things settle down a bit and it can be slightly de-leveraged to pay for refinery capacity, erm, well in dollarii if the UK can ever manage to refloat stirling the way it had been promised.
Did I post this on the wrong thread? Oh bother..
Posted 2 years ago # -
rickwestwell
offlineMemberI'm going to have a word with the editor, and see if we can get all the economics posts deleted and the old "tits in mangles" ones put back.
Posted 2 years ago #
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