Picken's $700 Billion Plan

[jetflyer]

SWA GUY,
They asked T Boone about him making money on this. He said "I have enough money, I want to help America. I'm doing this as a public service endeavor".

He's been saying we're at PEAK OIL for the last two years.

He's right.

Year after year the price of oil is rising. He's NOT WORRIED about year over year price declines I promise you that.

He's worried about the American Economy like I've been. It's why I've been telling you guys about peak oil. It's here. It's real. It sucks.

Jet

 

[SWA GUY]

By how much will price come down? Are we talking about 40-50%, or would it be more like 0.5%? Looking forward to hear your answer..

The best crude oil consultants in the business (in Houston, TX) are saying a peak of crude oil PRICES will occur this summer and crude will slide to somewhere between $60-68/bbl by December.

So the rest of the world should blame the democrats for $145 per barrel?

Crude oil is traded on the NYMEX. The day we pass legislation on opening our reserves, of which we have a VAST reserve, crude oil prices go in the tank. T-Bone knows this, and he knows it's coming. He's a smart man.

You may blame any person, party or group, for high crude prices that is preventing us from lowering them. There are actually two parties that share the blame. The dirivitive firms on Wall Street/Investment houses/Pension Fund groups for injecting in excess of 100 billion dollars in to the crude oil futures over the last 7 years, and the Dems for not letting the US drill domestically.

 

[Poahi]

Obama wants higher taxes and believes lower oil prices will hurt our 'addition' problem. McCain has nothing, Congress would rather see Republicans in pain than lower oil prices and there is no end in sight with higher oil prices.

Democrats believe OCS drilling is bad because there is no immediate effect on prices, yet they want to tap our reserves knowing that it is dangerous and temporary. When there is a global recession and the US airline industry collapses, there is going to be lots of blame. It will be too late.

I don't understand why no one gets this.

 

[jetflyer]

SWA Guy,
Ok, let's say you're right and Pickens is only doing his endeavor for self-serving profit and not his deep concern that the world is at peak oil.

Who cares?

It makes us less dependent on foreign oil.
It will lower the price of oil.
It will reduce our trade deficit.
It will help American families.

Let him make some money but also let this PATRIOT help America.

You think our government is going to fix the energy problem?

Oh and drilling in the U.S. being announced will do absolutely NOTHING to the price of oil for the next 7-10 years. You're dreaming. Yes I say drill everywhere and anywhere but it won't make an impact on supply/demand for years to come.

There is a REAL supply/demand problem now that the high price is fixing like it's supposed to do.

The free markets are working great.

Jet

 

[jayme]

The Congressional Republicans passed bills in the House and the Senate 5 times in the 90's to open our country to drilling in the ANWR and the OCS. Bill Clinton vetoed all 5 bills.

In the 2000's the Republican controlled House passed the very same bill, but when it made it to the Republican controlled Senate it failed by 1 vote (John McCain). Thanks John, you knucklehead! Fortunately he now sees the error of his way and is FOR drilling.

Now, with the country in dire financial straights, President Bush has lifted the Presidential moratorium on drilling in the OCS, however there is still a congressional moratorium in place and the Democrats aren't budging.

If you like $4-5 gas you can thank the Democrats, they have publicly stated that the US needs to pay more for oil and gasoline. They have made it all but impossible for the US to drill for oil in our largest reserves, build nuclear power plants, build new refineries, or use clean burning coal technology. The party of "NO". We are going to reduce our way to the solution?!?!? I've seen a lot of airlines try that, it doesn't work.

The republicans had control of the house, senate, and white house for 6 straight years, and you mention ONE vote in 2000? What were they doing about it for the next 60 MONTHS?

Money is pouring into oil futures to for various reasons i.e. hedge against inflation, money coming out of the free-falling mortgage market (both results of poor government oversight over the past 7 years). The falling dollar (thank you Iraq war!) is only exacerbating things.

The incompetence of the Bush administration is nothing short of staggering. They put us in this situation. Blaming a congress who has been in control (with the opposition party in the white house)for 18 months is pathetic.

 

[blueridge71]

Wind works better than coal. When you look 20 years down the road not the usual 5 most americans do.

Also another problem is high voltage transmission lines are needed to bring the wind power out from the plains of SD, ND, MN etc into the cities of the midwest. This takes time and money but in the long run a windmill is many times cheaper and better than having to constantly dig coal out of the ground, transport it and use it to boil water which then turns a turbine.

That is what I've read also. Additionally there are problems with storing huge amounts of electricity for days when the sun doesn't shine/wind doesn't blow.

 

[blueridge71]

.

"Hope and Change". If you don't change, all you'll have is hope. "Hope" ain't gonna get those gas prices down.

It wasn't too long ago that the Democratic mantra was "hope is not a strategy." My, how the times have changed!:laugh:

 

[myrows]

Expanded nuclear should be a part of any energy plan but this notion floating around that it's "proven and profitable" technology is a stretch. Nuclear has been heavily subsidized for R&D(and we're not talking about the manhattan project), operating costs, and has liability caps in place. The liability caps mean that if a plant goes all Chernobyl the plant is only responsible for a limited amount of damages no matter how bad the carnage. This saves hundreds of millions if not billions of dollars in insurance payments over time.

If wind and solar had been as heavily subsidized as nuclear we might already have "proven and profitable" technology by now.

 

[SkiFishFly]

Expanded nuclear should be a part of any energy plan but this notion floating around that it's "proven and profitable" technology is a stretch. Nuclear has been heavily subsidized for R&D(and we're not talking about the manhattan project), operating costs, and has liability caps in place. The liability caps mean that if a plant goes all Chernobyl the plant is only responsible for a limited amount of damages no matter how bad the carnage. This saves hundreds of millions if not billions of dollars in insurance payments over time.

If wind and solar had been as heavily subsidized as nuclear we might already have "proven and profitable" technology by now.

We don't build that type of design - not safe enough.
Those who really understand Nuke power also know that it can be very safe.
Consider this - was Three Mile Island really a "disaster" (as the ignorant media and enviro wackos would have you believe)? Perhaps if you took a more careful look at what happened there you would view it as proof that the containment strategy and safety systems designed into our nuke plants actually work.

 

[BigMeat]

Hey SWA guy you seem to want to make this a political party thing. Quesiton how much oil would have anwar produced for a private oil company. Would that have been sold on the world market or just in the U.S.? How much money would have that saved the average household in America? Few pennies maybe?