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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: Mannie who wrote (13559)	5/10/2004 2:33:23 AM
From: Elroy Jetson	Read Replies (4) of 110194

Americans had, and still have, a very clear energy choice. If crude oil were priced at $100 per barrel, virtually all alternate energies are more than economic. Many are economic at far lower prices. Crude oil priced at $100 per barrel means gasoline prices of additional $1.30 per gallon. Brazil made this decision by imposing an import tax on oil and run their automobiles exclusively on ethanol, made from local sugar cane. Conversion kits were available and global auto makers long ago made the necessary changes. When I worked at Chevron, now ChevronTexaco, during the oil crisis we would have been more than pleased to participate in such a change-over. Chevron Industries also produced geothermal electricity, oil from shale oil and tar sands. We had also investigated nuclear power but had concluded that it was not economic if the true costs of long-term waste disposal were accounted for. As long as Americans are not willing to pay the additional $1.30 per gallon we will be beholden to the Saud Family like a bunch of crack addicts. Senior employees at ChevronTexaco all know how corrupt and despicable the Saudi regime is. I could relate many, many stories - in short, they are scum of the earth. Our Saudi addiction drives much of our foreign policy, causes the Bush Family to spend their vacations with Prince Bandar, leads our nation to overlook torture and horrible oppression by the thousand member Saud Family and their minions and ultimately is the driving cause behind the terrorist attacks by groups like Al-Queda. At some point even the cheapest and most short-sighted Americans are going to have to conclude that an additional $1.30 per gallon is a small price to cut our ties to our cheap oil drug pusher. Oil reserves may run out soon or never, that's a seperate issue. The real question is how long do we want to compromise our security and integrity in order to save $1.30 a agllon.

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