Yes, Brad and Joe. . .we are still officially awaiting a move southward before we move northward. However, this rally has become far stronger than the one last year and lasted longer as well. That needs to figure in somehow. So unless we get a terribly sharp decline over the next 30 days, we will not see the low point as expected. . . and build from a higher bottom than expected. Time will tell.
As for the ethanol controversy. . .and as Rock pointed out, that old data has been used for years to quell enthusiasm for this technology. It is as though we could never find a way to make it cheaper and we are incapable of ever coming up with a way. It is as though the technology is merely a pipe dream and could never help wean us off imported oil. We all know this is untrue. For instance, how can we possibly know whether we could get biodiesel down to a competitive rate, if we don't develop a critical mass number of factory/refineries to compete against one another? Same goes with ethanol, wind, solar, jelly beans, you name it.
I think William used the word 'rhetoric' to imply he doesn't buy it at face value either.
We all know fuel cells could change everything, but now GM seems heavily "invested" in Ballard, the company that developed fuel cell power plants for automobiles. That should slow THIS promising technology to such a crawl over the decades as to render it ineffective. . . .like all the promising technologies before it.
If the White House ever REALLY wants to see alternative energies get teeth and legs, then they need to restrict the restrictions on its development. I.E. fund universities to drive an open development concept . . . or any number of other solutions to ASSURE its longevity, progress and efficacy.
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