The Beginning of the Middle!

As a barrel of oil took a quick dip to $136 bucks…you might think the great soaked consumers would be standing on their cars cheering!  Hey, we finally got a $5 drop…..whew….how long did that take?  But what about tomorrow?  What about a week from now?  How about next month?

T. Boone Pickens, Pat Buchanan and Newt Gingrich…all think we need to change our oil consumption.  They all want Natural Gas, Bio-Fuels, Wind and more Fossil drilling!  They all think that the “Oil Investment Speculators” have had little or nothing to do with the rapid rise in the cost of a barrel of oil during the year 2000.  What are these guys smoking?  Have any of them addressed the so-called “Enron Exception” – attached to Farm Bill in 2000?  Well, Hank Paulson our Treasury Secretary, Ben Bernake of Fed, Chris Cox, the Security and Exchange Commission Chairman and Jamie Dimon of Chase all seem to think that a change of Regulations is now required.

The Europeans are “freaking out” and have made steps to limit the “pure speculation” that we are experiencing here in the United States.  They seem to believe that having Goldman-Sachs, Lehman Bros. and Chase own all the world’s black gold….is probably not in their better interest.  In fact, it is not in anyone’s best interest – except the Brokerage Agents and Pension Funds that have been pumping their cash into the market. 

Well, the heat is on….and these greedy twits are busy covering up their ill gotten gains…as fast as humanly possible.  These guys are no dummies, so we still need to track their activities.  They are hoping they can hide out until after the election or maybe even until 2010!  “Market Manipulation”…ever heard of it?  It is going to cause a big bunch of dominos to fall and cost the consumer more in energy costs than can be calculated on a standard adding machine!  What about the Oil Companies?  Don’t look for those guys to be going out of business – anytime soon!

People talk about a lack of a “Energy Policy”!  What does that mean?  Does it mean that the United States refuses to sign long term contracts with various countries for a “stabilized price over a period of 10 years”?  We did it with Mexico in the 1980’s!  We bought every drop of Mexico crude for 10 years at $10 dollars a barrel.  Have things changed that dramatically?  If so, who was watching the store for the last 28 years?  Can we as a nation secure a steady oil supply from a variety of countries?  What percentage?  How much would we then have to drill for?  We would know wouldn’t we?  They could not fool us….could they?  We have computer generation to launch a manned mission to Pluto…..but we can’t figure out how much oil we need for next week?

Fannie Mae and Freddy Mac secure home loans for people.  How bad is the liquidity issue?  They are going to have to borrow $75 billion dollars from the Fed so they can stay in business.  The Foreclosure issue is mounting and we have yet to see anything but the tip of the iceberg.  If we think it is bad in the USA, take a look at the European Community.  Even in a Socialistic Oligarchy they are having trouble finding funds to build much of anything.  Thank goodness they tend to earmark for historic monuments and such – otherwise, those things could just be falling apart in front of our eyes!

How long will these doldrums last?  Until the greed of the “Oil Market Speculators” is satisfied.  How long will rising unemployment last, or falling retail sales, or the crash of the auto market, or the crash of the real estate market, or the lack of confidence we have in government to solve our problems?   Hey, maybe they finally got the message!  Maybe, just maybe they are going to turn off the “Greed Faucets” and retrench for a minute!  Tomorrow is another day and we can look to see the price of oil, just like everyone else!

Maybe this is just the Beginning of the Middle….and soon we will know that the Beginning of the Middle….was really about the end of the Middle and the Beginning of the End! Maybe!  In the meantime, we suggest that “longterm oil contracts” start to become a priority for those involved!  What this means of course is that we need to quit sending our oil overseas to Japan, North Korea and other unmentionable locations!  We really can’t afford to send our oil overseas…can we?  Who is responsible for this?  Oh, the Congress!  They want to put an SUV in everyone’s garage…that’s how in touch they are!

 


About Ron & Anna Winship

Independent News Producers/Writers and Directors for Parker-Longbow Productions. Independent Programming which includes a broad variety of Political, Entertainment and Professional Personalities. Cutting Edge - a talk show...is the flagship of over 30 URL websites developed or under development. The Winships have been blogging for the Orange Juice since back when nickels had buffalos on them, and men wore onions attached to their belts, because it was the fashion back then.