Better Fill up today

[Judy Harder]

Bonnie,

Glad to know that you and Bob made it east ok. I worried about you and the storms you had to go through

Hope to see you again, before you and Bob head back home.

The short time we got to visit, was just that, short.

Hugs and God bless,

[frawin]

Front Month Crude Oil was down $4.41/BBL today and closed at $126.62/BBL, conservation and cutbacks are working and consumption is coming some.
Frank

[flo]

sounds like everyone is having a great time with their traveling.  Dianne, I have only had breakfast for supper at the Swinging Bridge and it was very very good as has been every meal we've eaten there and we've eaten a few.  As for fuel, I've seen Severy 20 cents plus cheaper than P&J's several times and don't think any of them are making much money off of fuel.  But, you do have to consider the fuel you'll burn driving to save that money.  If, however, you are going on north, then by all means shop for the cheapest.  Teresa, do you need someone to carry your camera for you?    .  Bonnie, have a good flight home.  Frank, was disappointed you weren't with Myrna Sat.  I was sorta looking forward to some one-on-one "discussions" 

[Diane Amberg]

Thanks Flo, thats a good recommendation for both human food and car food.

[Teresa]

I am always up for some one to carry the cameras and gear Flo... BUT...
by the end of the days, you will be worn out.. and I would have to give you a massage ...........
hmmmmmm..  I think I'm beginning to see your plan here.
You want more massages don't you?



We are all going to go and eat tonight at the Swinging Bridge for supper. Mama gave each of us a gift certificate for supper and I am going to have one of their yummy rib-eye steaks that they have on Friday and Saturdays. Ashley is spending the night with me tonight, so she is excited to get to go to the park afterwards. ( the eating for her is okay..... but the park that is right there has her pumped .. LOL )

[flo]

well, dang,  thought I was being careful with my wording, but can't slip up on the blind side of Teresa.  Folks, if you haven't had a massage by Teresa, you are missing something.  That was definately one of the most relaxing hours I have ever or shall ever have. 

[Teresa]

Ten Simple Truths about Oil
Alan Caruba

http://factsnotfantasy.blogspot.com/search?q=Ten+Simple+Truths+About+Oil


Having written about the energy industry and issues now for a long time, I hope I can be forgiven for being enraged by the comments bySen. Charles Schumer (D-NY) in response to President Bush's press conference Tuesday morning.

There is simply no way to describe them other than false.

The Democrat Party has long made "Big Oil" their favorite punching bag, confident that the public has no idea what influences the price and supply of oil. Saying anything favorable to Big Oil is immediately deemed evidence that one is in their pay and whatever facts are offered are therefore invalid.

There are, however, some simple truths about Big Oil that cannot and should not be ignored. To do so leaves everyone at the mercy of energy policies that have created the situation in which the United States finds itself today.

Fact #1. The combined ownership of oil reserves by the independent, investor-owned oil companies such as ExxonMobil, Conoco-Phillips, BP, Chevron and others is barely 4% of the total known oil reserves in the world. By itself, Exxon-Mobil's share is 1.08%.

Fact #2. Oil is a global commodity sold on mercantile exchanges for whatever price it can command. Speculation in oil prices is the primary reason they have been driven to utterly insane costs per barrel. It has nothing to do with actual supply and demand.

Fact #3. No nation on Earth is or can be "energy independent." The geopolitics of oil is complex, but as nations such as China and India have seen their economies grow, their need for oil grows with it and thus they compete with long established industrialized nations for existing oil supplies. This competition has an impact on prices.

Fact #4. The OPEC nations, those in the Middle East and including Venezuela, control 77% of the world's known oil reserves. Like Russia and Mexico, where the oil industry is controlled by the state, it is generally poorly managed. Several Big Oil companies that were induced to undertake exploration and development in Russia and Venezuela actually had their assets nationalized or stolen at prices well below their investment and value.

Fact #5. Energy is the master resource. All nations with any hope of growing their economies require it, mostly in the form of electricity, but also for oil's role in transportation. The failure to have a national long-range energy policy that is based in reality can severely impact energy prices.

Fact #6. The United States has, for years, pursued an energy policy based on environmental myths such as "biofuels" in which corn is turned into ethanol to reduce the import of oil, but it costs as much to produce ethanol as to refine oil and it provides less mileage per gallon, thus negating any reason for this additive. Likewise, suggesting that wind or solar energy can generate anything more than its current 1% of the nation's electricity needs ignores their unreliability and the fact they are heavily subsidized, a form of hidden consumer tax.

Fact #7. It costs billions to explore, discover, extract and transport oil. It takes lots of lead-time as well. The United States Congress has, for decades, refused to permit the extraction of vast oil reserves in ANWR despite the fact it would have little or no impact on the Alaskan wildlife reserve. In addition, Congress has declared 85% percent of the nation's coastal, offshore areas off-limits to any exploration for oil or natural gas.

Fact #8. The U.S. Environmental Protection Agency, under the mandate of Congress, requires Big Oil to refine oil into some 17 different formulations in the name of clean air. With three grades of gasoline, that means that refiners must produce some 45 different blends. The quality of air in America is excellent, but the cost of gasoline at the pump continues to rise as the result
of these mandates.

Fact #9. America imports two-thirds of the oil it uses. All of its transportation runs on oil. The population continues to grow. Failure to encourage the construction of a single new refinery since the 1970s puts a further strain on the ability of Big Oil to provide the nation's oil and diesel fuel needs.

Fact #10. Democrats continue to demand that Big Oil's profits be confiscated in some fashion and some of the inducements offered to explore for more oil be ended. Because the costs of exploration, extraction, refining, and transporting of oil represents billions, the actual profit margin of a company like ExxonMobil is about 10%, well below what industries such as pharmaceuticals and banking enjoy.

For these and many other reasons, Americans are being impoverished at the gas pump because Congress has dithered and failed in one of its most important responsibilities.

[frawin]

Well said and it fairly well covers our energy problems. The big thing needed now are   mandates to lower consumption, smaller engines, lower speed limits, more and cheaper hybrids, more research on Hydrogen Fission and other non-petroelum sources of energy. Lower our massive trade deficits which has devalued our currency and the result is we have to pay more dollars for oil. It will take time and lots of pain but I still think the American "Can Do Attitude" will eventually overcome the energy problems of today. Everytime I hear someone say"Exxon Made 40 Billion Dollars", I wonder  if they ever ask what Exxon spent, some projects that the major oil companies do require billions of dollars in capital outlay and they may not recieve a single dollar in return for 10 to 20 years.
Frank

[W. Gray]

Gas prices around the world. No word on what part of the price is tax but some of these countries levy a stiff tax. Hugo Chavez as the cheapest price and he always likes to bring up gas prices when he is ridiculing the US.

Gas prices around the world per the Associated Press

Germany 11.49 gallon
Turkey    11.49
France      9.66
Britain       8.31
Japan        5.77
Brazil         5.67
India          4.16
US             3.96
Russia        3.68
China         2.93
Indonesia    2.39
Venezuela     .12

[Bonnie M.]

Just thought I'd add about the cost of gasoline in various locations:

Escondido, CA   $4.21.9 per gallon!  I about "had a stroke" when we arrived home today, and saw the price of gasoline now! 

Diane, take along your "pocket book," on your "road trip!"

We had a great trip back to Longton, (Kansas, of course!) Illinois, and points in between.  It's always great to go, and then it's great to get back to our own bed!  It was 62º when we landed in San Diego this afternoon.  Very nice!