OT: Price fixing by the oil refineries?

Why do you think he just proposed new drilling in Alaska and offshore?

It has nothing to do with supply and demand. The supply won't come for years -- and will be trivial when it comes. But the futures market in oil acts like it's on amphetamines and is paranoid schizophrenic.

It's another failed market. There is no real market there at all. There is mostly speculation, and cartels.

This is *EXACTLY* what I've been saying for years, most recently a couple of weeks ago. When gas prices spiked, ostensibly due to the goings on in Libya, Obama "suggested" that we could open the Strategic Oil Reserve. It was a mere matter of hours until OPEC announced that they would increase production.

We are, indeed hostages. Opening ANWR to drilling wouldn't make a dent in our imports, nor would opening every possible offshore site. The result would be that OPEC would lower their production and raise their prices and we wouldn't notice a difference at the pump.

What we need to do is develop alternative energy sources AND, more importantly, we need to lower our consumption of energy. A decent public transportation system would go a long way towards that goal.

=========== The problem is that while the FRB can set the interest rate any where they wish, Uncle Sam can only borrow money at rates the bond market dictates, except for the forced purchase by the "trust funds" at below market rates.

Internationally, (although this only works for domestically held funds), a frequently used ruse to force the purchase of dodgy government bonds [and operationally expropriate the capital] is to dictate that a [increasing] per cent of reserve funds held by banks, pension funds, insurance companies, and other institutions, must be government bonds [for safety :-

We have lots of energy sources now. Coal and Natural Gas are both available at much lower costs than wind and solar. But what we lack is enough mobile energy sources as gasoline, diesel, and jet fuel. We can develop wind turbines and solar cells, but they will not do zip for cars, trucks , tractors , and airplanes. A decent public transportation system will work in the North East, but isn't going to do anything in Montana, Alaska, and Texas ( or most states of any size. )

Dan

Then someone should tell them what Snag said upthread:

----------------------------------------- "Snag" on Tue, 17 May 2011 19:54:58 -0500 typed in rec.crafts.metalworking the following:

Interesting how in Sept 2008, one can trace the sudden, and rather steep (nay, precipitous) decline in crude oil prices. Started about a day or two after President Bush signed an executive order lifting those restrictions on off shore drilling which were policy and not matters of law. Going going ... Sept 19 "Cushing Spot" oil is 104 a barrel, 90 days later it is $36 a barrel. Caused a lot of speculators to lose their shirts too. Hmm ... maybe someone could explain this to Barak, using small words and lots of pictures.

tschus pyotr

-----------------------------------------

Sound like the perfect way to punish oil companies and speculators.

technomaNge

Kindly explain how a GOP minority in the Senate can kill any bill not requiring a supermajority vote?

technomaNge

=========== Coal liquefaction -- an "off the shelf" solution -- from the

1920s...

If this implemented I strongly suggest that domestic US oil companies be barred from participating to avoid stalling, obfuscation, delay, and sabotage. There appears to be no reason any existing company should make a dime from this investment and when/if privatized all profit should go back to the government to pay down the national debt, or remain as a GSE ala the TVA, again with all profits going to reduce the national debt.

-- Unka George (George McDuffee) .............................. The past is a foreign country; they do things differently there. L. P. Hartley (1895-1972), British author. The Go-Between, Prologue (1953).

WASHINGTON -- A ceremonial vote over whether to end subsidies to major oil companies failed on Tuesday, with 45 Republicans and three Democrats voting to continue the tax incentives to the five largest oil companies.

Atlhough the 52-48 vote broke down mostly along party lines, Republican Sens. Olympia Snowe and Susan Collins of Maine split with the rest of the GOP to support the effort to repeal oil subsidies.

Fuck you. I air condition one room, and drive less than 3,000 miles a year. My electric bill last month was $71.56, and the air conditioner is set at 80 degrees because several medications aren't supposed to be refrigerated, or stored above 85º F.

If the people in power were sane, and weren't bowing down and kowtowing to the NIMBYs, they'd simply reprocess it into new fuel, high-value isotopes for research, and dirt.

"OOO! Can't do that! The _TERRORISTS_ will steal it and make bombs!" Well, unless you just crawled out from under your rock yesterday, you'd have already seen that that ship sailed a couple of decades ago.

Hope This Helps! Rich

Terrorists are unlikely to make bombs with plutonium. They are much more likely to make bombs with U233 or U235. U233 is the fissile material produced in the reactions in thorium reactors, and the "new fuel" that can be made that way in a breeding process. Plutonium is a byproduct of conventional uranium reactors and is the stuff that's caused real panic in Japan. It's toxic as hell.

Many RCM members could make a bomb with U233 -- you can use a gun trigger, like the Hiroshima bomb, which was never tested before we dropped it. The Nagasaki bomb was the one tested (in concept) at Trinity. Which isotopes are you planning to produce from reprocessing for "research"? And how are you planning to make them?

'Don't think so.

I have thought about that. That last thing I'm going to invest in would be treasuries that are redeamed with inflated printed money.

I was too late for silver and gold but in time for guns and ammo.

On a serious note, who has the money to loan us? Where did they get it, what does their balance sheet look like? Are they other nations printing money so we are borrowing imaginary money so rubes like me won't realize what is happening?

Wes

treasuries that

Before you ding me, I know where my SSI and Medicare money went. I didn't have a choice. ;)

Wes

Countries who run a mercantilist economic policy and who need a place to stick their trade surpluses: China (7.5% of US national debt [public debt]) and Japan (6.4%) are well known. The UK holds 3.4% of our debt, and Canada has just moved somewhere into the top ten. But foreign holdings are only a fraction of the public debt: around 32% of it, actually.

42.2% is owned by private US individuals and institutions. And a lot of the total public debt -- something like 26% -- is really money we owe to ourselves, in various government accounts. For example, Social Security, which we have beaten to death here; military and civil service retirement funds.

Wes, those are good and penetrating questions. The money is real money, as far as I know.

Here's a general breakdown of categories of owners of the national debt:

This is a tedious series of pages you have to scroll through, but it contains little explanations that are useful:

Here's a quick-and-dirty pie chart that's repeated all over the Web. It's not easy to read:

If you need more, just ask. There are country-by-country breakdowns available from Treasury.

I'd call it rationalization. You can store medications in a fridge cheaper then air-con a whole room - the military did it in the tropics as late as the 70's as I saw them then.

But you prove my point. You could get along with a 40 watt light in each room, literally millions of people do. You drive 3,000 miles, or nearly 10 miles per day. You could buy a bicycle.

The point is that the U.S. energy requirements can be significantly reduced; if people actually want to. But it is obvious that while a great deal of lip service is paid to the subject no one actually wants to change their life style.

Quite simply, as out comptroller once said in regard to a company cost reduction effort, "Cost cutting is anything that doesn't apply to me".

It costs more to run a fridge in an non air conditioned room than one that is, since the heat gets trapped. My A/C ran 24/7 for the last month, and used less than $24 in electricity. The previous electric bill was a little over $48

Actually, it's 13 watts.

You go buy a lousy bicycle. I have circulation problems in my legs, and I can't ride a bicycle. There is no way out of my subdivision without riding on a busy highway with no bike lanes, and I'm not suicidal. There is no way in hell I would even consider a bicycle ride for the 65 miles to the VA hospital for some of my appointments. Any other time I drive somewhere it is to bring home a load of groceries, or other heavy items that aren't practical with a bicycle. Some of those trips are to take other Disabled Veterans to their doctor's appointments.

The point is that you want others to change, when you don't know what the hell you're talking about or they minimum requirements for them to live. Do without A/C. Toss out your refrigerator and don't ever bathe for all I care, but mind your own damn business.

And you show it with your dumb assed comments. BTW, why did they out your comptroller?

I recycle a lot of used electronics by repairing it and giving it away. I built things out of used materials, like the 30+ square feet of tongue & grove lumber I am making from used pallets to repair a damaged floor.

Sure, any fool puts the fridge out on the back porch in the shade. At least that is what my grand mother said.

Goodness but you are festy.

But the fact still remains that it is possible to significantly reduce U.S. energy use; if it is really desired.

They didn't he retired after about 20 years on the job.

What in the world does that have to do with the U.S. Energy usage?

Silly me. I thought we were going to store it in teacups in Tom's back yard.

I don't think any go above 45º F if they aren't turned off.

I bought a couple small Peltier modules on Ebay to make a medical cooler.

I was looking for one of those small pop coolers that held a six pack, but decided to build one with a battery backup so I can take it with me if I have to evacuate during the hurricane season. I haven't found a big enough piece of aluminum for the inside piece. I plan on using a can of foam in insulation and a small fan to draw air past the hot side heatsink that can be covered when it's turned off. that way the insulation and a pound or two of aluminum should keep it within the safe range for hours on a hot day. It will have a couple temperature settings, one for normal use, and a lower temperature to chill it if you know you will be away from any power for a while. I will be able to run it from the truck, or one of the jump-start packs, as well.

I bought a couple of these snap in thermometers to display the internal temperature:

I already have several of these for other items around the house:

I learned as a kid to make sure to buy spare parts when I build a one-off. :)