The Liberal Lie, The Conservative Truth

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HISTORICAL QUOTE OF THE WEEK - "Always bear in mind that your own resolution to succeed is more important than any other." ABRAHAM LINCOLN

Wednesday, December 17, 2008

OPEC STILL IN CONTROL

All across the Nation drivers, businesses and consumers have joined together in a sigh of relief as gas prices have dropped to lows not experienced since 2004. The price of a barrel of oil is hovering in the mid 40's and prices across the board are beginning to drop as companies who depend on transportation to deliver goods are also experiencing lower costs to deliver those goods.

So everyone is happy, right ? No ! There are greedy Middle East oil sheiks who hate the fact that the rest of the world is experiencing relief at the pump at their expense. Or at least as they see it, at their expense. So OPEC is meeting today to discuss decreasing out put by the largest amount in history. Before this conference is over OPEC oil production will most likely drop by 2 million barrels per day.

A 2 million barrel oil production decrease whose sole goal is to get the price of a barrel of oil back up to between 80 and 100 dollars per barrel which equates to about $2.50 at the pump. Which of course will have the usual effect of increasing business cost, consumer products and once again start digging into the pocket books of drivers as gas increases.

At current levels and cost per barrel the average price for unleaded regular is around $ 1.65. Here in South Carolina where I call home, I am paying between $1.49 and $ 1.54 per gallon depending on the traffic volume of the station where the gas is purchased. A far cry from the $4.00 a gallon experienced last summer and a blessed relief to the pocket book.

Congress allowed the off shore drilling ban to expire in September which made it possible for oil companies to explore and drill for oil off our shores. Now Nancy Pelosi is considering reinstating the ban as the Democrats bring a larger majority to Congress in January. Gas prices have dropped and the American people have stopped complaining about the price and the, "pain at the pumps," so Democrats see no reason to drill anymore.

Which brings us to the bottom line, OPEC is still in control. We are an oil based economy and even when world demand drops the price of oil as it has in the last several months causing the price at the pumps to follow, we in The United States still do not control our own destiny when it comes to oil and oil prices.

The move that OPEC is making is a prime example of how we as a country are still slaves to the oil producing countries and are helpless in controlling anything in which oil has an effect. These include, heating and cooling our homes, driving our vehicles, the purchase of consumer goods which depend on ground and air transportation, the price of a ticket on any airline, the cost of operating our military which depends on oil to defend this Nation. The list is almost endless because we are an oil based economy.

And OPEC still has control. The idea of alternative forms of energy is great. The prospect of creating jobs through those alternative choices is also a wonderful thought. But a thought is all that it is because the infrastructure and ability to produce and/or manufacture vehicles, etc. that use the alternatives does not exists or exists only in a limited way. Alternatives are the way of the future but oil is the here and now.

The only way to take control back from OPEC and other oil producing countries like Venezuela is for The United States to DRILL ! Until that happens we will continue to be a slave to OPEC and the oil producers for at least 20 to 30 more years until the alternatives can be produced in mass quantity to meet the energy needs of this country. Until then we will not control our destiny, our economy nor our own pocket books. Just because the price has dropped the urgency to drill has not diminished. It is not as much an issue of price as it is an issue of dependency and that is why OPEC still has control !

Ken Taylor

UPDATE: AFTER A FOUR HOUR MEETING OPEC AGREED TO A 2.2 MILLION BARREL DECREASE IN PRODUCTION

6 Comments:

Blogger Rob said...

Hey Ken, it's been a while.

There are two points I'll make. First, looks like I was right a couple of months ago - there was never a supply/demand problem. Rampant speculation drove prices up irrationally.

Second, the whole DRILL idea is flawed. We do not have anywhere close to the reserves to supply ourselves. It is time to change from oil-based energy to renewables.

If we invest $100 billion we can completely overhaul energy transmission lines and we can move toward building wind farms throughout the midwest. There are a bunch of advantages to this. First, we can create a ton of new jobs and open up steel and turbine plants here in America. We have enough iron ore ourselves to do this. Second, we will make energy transfer far more efficient and far cheaper. It will lower monthly energy bills for homeowners by $75-$200/month. And, it reduces our reliance on foreign oil.

Look at the Pickens plan - he is no left wing environut.

Merry Christmas to you and Happy New Year if I forget.

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