[meteorite-list] OT -Oil reserves, the reality

From: mail at mhmeteorites.com <mail_at_meteoritecentral.com>
Date: Fri, 8 Apr 2011 20:15:23 +0000
Message-ID: <1215186430-1302293722-cardhu_decombobulator_blackberry.rim.net-1471908122-_at_bda2682.bisx.prod.on.blackberry>

We should remove subsidies from EVERY industry. A true market economy. Only the strong will survive.
Matt

------------------------
Matt Morgan
Mile High Meteorites
http://www.mhmeteorites.com
P.O. Box 151293
Lakewood, CO 80215

-----Original Message-----
From: Richard Kowalski <damoclid at yahoo.com>
Sender: meteorite-list-bounces at meteoritecentral.com
Date: Fri, 8 Apr 2011 13:12:13
To: <meteorite-list at meteoritecentral.com>; David R. Vann<drvann at sas.upenn.edu>
Subject: Re: [meteorite-list] OT -Oil reserves, the reality

David,
Thanks for the excellent synopsis. We certainly do go off topic on this list quiet often, but it is well thought out, reasoned and factual posts like yours that make these excursions not so unwelcome.

I always find it interesting when complain about the highly manipulated and subsidized oil industry. The "drill here" crowd always say that by tapping resources here, the price of a gallon will come down. I always ask, "Why is that? The crude will be sold on the open market, to anyone in the world with cash to buy it. There is zero evidence that the price will drop due to this new production, after the many years it would take to bring on line, because there is continuing and growing worldwide demand.

It is no secret that the oil industry is highly subsidized in the US by tax breaks and a number of other benefits and gives backs We the People provide for this industry. If these blatant subsidizes alone were removed and these companies paid their fair share, the joke, smoke & mirror political theater we have going on in DC right now would be wiped out. So, we could have everything being cut if the oil industry just paid their fair share.

What always goes unspoken is the fact that the US military protects oil assets and transportation for most of the world, free of charge to both the industry and other countries. The American taxpayer is happy to borrow against their children's future to protect the price and supply of oil for the rest of you. You are welcome. All we ask is you continue to buy our debt and not burn our flag.

I recently heard a report that if all of the subsidies were removed from the oil industry, including our military protection, the price per gallon here would be more than $14. I suspect it would be much higher than that in Europe because they would need to pay for protecting their own supplies, instead of letting the United States do it.

On one last point, and very off topic even for this off topic post, The same group blamed for the price of gas is also blamed for the death of nuclear power here as well. Unfortunately that isn't true. The bankers are what has killed NP, because they refuse to put money into it. There is just too much down side for the investment. That's why nuclear power here requires large government oversight and huge government funds to exist.

Big government and big spending is what is currently supporting both industries. So much for the free market.

Cheers

--
Richard Kowalski
Full Moon Photography
IMCA #1081
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Received on Fri 08 Apr 2011 04:15:23 PM PDT