No Difference

Hello Oldcoger, From the sound of your post, you seem to be carrying the weight of the world on your shoulders. I think that a healthy dose of perspective is helpful when times get tough. This economic downturn is really quite mild, compared to other economic down-turns throughout history. I remember the 70s being infinitely worse than what we are experiencing now. We don't have double-digit inflation. We don't have a 13% prime FRB lending rate. And, we don't have double-digit unemployment. Comparatively speaking, we're doing fairly well. Though, the Fed policy to flood the market with fiat currency is very troubling indeed! As for the candidates being powerless to affect gas prices -- they are not powerless, they are simply short on will. They have been enjoying the tax boon that these high oil prices bring. It gives them an excuse to fund their pork! The 'Will of the People', and some healthy economic brainstorming are what's called for. First thing Monday morning, Congress could take the necessary steps to dramatically reduce the price of oil, within a few months to one year. To do so, they would need to do two things: 1. First, they would need to legislate oil out of the commodity markets. Oil is not a perishable food crop. As such, it should not be loosely regulated by the Dept. of Agriculture -- as all commodities are. The reason OPEC recently announced that oil could climb to $200/barrel is because the most hardened gamblers in the country (and around the world) are ratcheting up the price of oil futures in the day-trading pursuit of gains. These gamblers are satisfying their own lust to gamble, they're making the oil companies that much richer, and satisfying Congress's insatiable thirst for tax revenue. Where's the incentive for any of the three to take responsible steps toward healthy economic change? Take speculators out of the picture, and oil returns to a straight supply/demand product. This will result in a significant reduction in the price, over three to six months time -- because there is no shortage of supply. Yes, demand is high, but not so much as to result in these crazy high prices. ** Remember some months back, when oil first broke $100/barrel? The reason for the increase was traced to a single commodities trader who wanted to be able to tell his grandchildren that he personally caused oil to hit an all-time high! Grrr! That is how much power these hardened gamblers have on our day to day lives! The second step is for Congress to ease restrictions on the Bakken Oil Reserve in the Dakota's and Montana -- and the shale reserves in Wyoming, Colorado, and Utah. The Bakken reserve was first discovered in the 1950s, though not developed because hydrofracture drilling was not yet a feasible technology, and the costs of extracting the oil could not compete with imports. Clearly the landscape has changed with regard to importing oil. And, the Bakken reserve is enormous!!! If one ascribes to the "Peak Oil Theory", which I do not, then between the Bakken reserve and the Shale deposits in the more southern region of the Rockies, there is plenty of oil to feed our oil addiction for a long time, while we hopefully explore complementary renewable energy options. And, if as I and many others believe, that the "Peak Oil Theory" is whooey, then drilling in our own territories will keep us supplied -- perhaps indefinitely. And, will reduce or eliminate our reliance on imported oil. Already several oil companies, both large and small, are drilling in the Northern Rockies. A refinery is on the drawing board for the Dakota Territory, and a pipeline has begun to be built. So, the future is not as unpleasant as some might think. Though, to insure that this oil gets to the market, Congress and the whining environmentalist nut-jobs must get out of the way. I seem to recall a few years back, Al Gore proclaiming that we Americans should be paying the equivalent to Europeans for fuel. Now that we're gaining on our friends across the pond, I doubt that any Americans are on board with Gore's environmental plans for oil pricing! Oil is the lifeblood of the global economy. Until a viable alternative is found, people like Gore need to focus on directing people to pick up their litter, and stay out of the economy! Incidentally, the ANWAR oil reserve is tiny, as compared to Bakken and Shale. Plus, it'll be five to ten years before that oil could get to market. So, while I support drilling there too, the immediate needs of the country are to be found in the Rocky Mountains. Once we start satisfying our own drilling needs, the international price of oil will fall dramatically! We need to remember that while China's and India's oil needs grow -- which affects demand, the Mid-East, and South American supply side will fulfill their needs, once the USA opens the spiggots to our own oil. Europe really isn't a factor, because their high fuel prices have, for decades, been sky high because of taxes levied against their citizen's fuel usage for political reasons. That's not going to change, until Europeans send a loud and clear message to their elected. Until they do, their economies will continue to rely too heavily on the service sector, and not enough on the manufacturing sector. A lesson we American's need to be reminded of! So, the supply is there to balance this mess out, we just need to hammer Congress to get out of the way. As for the vehicle that runs on compressed air, would you be so kind as to provide a link to that information? I follow alternative fuels, and vehicular designs fairly closely, though am unfamiliar with this particular design. In closing, let not your heart be heavy. The future is still bright, though balance must be sought. To lighten your perspective -- I would urge you to read the link below. It's a short story about what's going on in the Dakota's, from a property owners perspective. http://www.minnpost.com/stories/2008/02/26/984/booming_oil_patch_lights_up_north_dakota_rangeland