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9.07.2005

Noted

Vice President's portfolio up by about 10%. Would that our leaders profited from American achievements instead of calamity and misery.

This is on Sploid right now, backing up most of the facts in an inflamatory article I saw yesterday in the Village Voice.

The very first thing George W. Bush did in response to Hurricane Katrina was to offer a helping hand—not to the people stranded on rooftops in New Orleans, but to his friends in the oil industry.


I'll believe that. The oil industry is surely filled with the same type of storybook villians we saw at Enron; a reckoning for them would be most welcome.

5 Comments:

At 2:13 PM, Blogger Ivan said...

"a reckoning"?

What does that entail?

The best revenge would be to purchase alternative energy, right? Do you know if there is a way to buy your electricity such that you know the means by which it was generated? Any good resources for learning that?

"wheremyenergycomesfrom.com"

Note that the average return for stocks is 11% yearly.

 
At 6:38 PM, Blogger Ivan said...

Restricting gas in the wake of Katrina is bad if anyone was hurt by it.

But, environmentalists should push whatever mechanism increases the cost of oil/gas. Nothing will bring about viable market alternatives to oil than higher energy prices.

Also, oil refineries are a problem generally even without this emergency. There is not nearly enough capacity to match growing demand. This has been the case for years. I don't think I know enough about the volumes of legislation on the topic to accurately say why this is.

The more I think about energy/oil, the more I want a 100% alternative solution for transportation. The covered electric motorcycle seems like a viable alternative for short to mid distance trips. Biodiesel & hydrogen hybrids, with solar along for the ride, could wrap up the rest.

 
At 6:48 PM, Blogger oded said...


The more I think about energy/oil, the more I want a 100% alternative solution for transportation. The covered electric motorcycle seems like a viable alternative for short to mid distance trips. Biodiesel & hydrogen hybrids, with solar along for the ride, could wrap up the rest.


Maybe you shouldn't be voteing for a president with so much vested intrest in fighting these initives.

 
At 7:50 PM, Blogger Ivan said...

And what would Kerry do? Probably have the same ammount of success as Carter had in picking a winner in synthfuels.

My point is that market solutions become available once the price is high, and many people are going to start experimenting with them, as we're seeing with the Prius+ crowd.

The point is NOT to say that the solution is X, Y & Z , and to have the government heavily directly or indirectly funding it.

My guess is that the average person can and will do a lot more by themselves if gas continues to increase in price.

People give the president way too much credit for what they think his office could accomplish. The moon race is a single engineering task, and has little to do with the market for transportation and energy.

I strongly suggest you read this.

 
At 10:42 AM, Blogger Miguel said...

The Halliuburton link I posted was for the past ten days of activity, not one year (YTD the stock is up about 58% ...mostly in the last few months as it's become more obvious that Operation Iraqi Freedom is destined to last forever). The stock spiked up during the flooding of New Orleans, rose steadily throughout the week, and spiked up again after the announcement that HAL subsidiaries are handling NOLA reconstruction.

The links about oil were about how the industry is pursuing a strategy of refining less oil and storing more, raising consumer prices by decreasing supply, and simltaneously increasing the worth of their own holdings. The other link is about how the opening up of the strategic reserve last week allows oilmen to sell oil from the reserve at current (high) prices and give it back later when our national ports are functional again and prices are lower, and is functionally a giveaway. Methinks that (just like with Enron) there are politically connected criminals making 7+ figure sums from this, and that we'll find out more about it in the future.

 

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