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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: Broken_Clock who wrote (70409)	6/3/2008 12:36:20 AM
From: Cogito	Read Replies (1) \| Respond to of 541457

>>Nobody who wants to buy it is having to go without. Thus, your analogy doesn't apply --- Not true, IMO<< BC - Looking into the stories on that site, the vast majority are about electricity shortages. A smaller number are about natural gas. There are only a few isolated stories about gasoline or crude oil shortages, and in each of those cases there seems to be a state oil company involved. In Argentina, the story says that some types of fuel are not available, whereas other types are in plentiful supply. The story also says that Argentina's refineries are working at full capacity. Doesn't sound like a shortage of crude is the problem. China says it's going to cease exporting diesel, and increase its domestic production of same. They also say current shortages are due to the earthquake and earthquake relief efforts. Some their refining capacity was lost in the quake. Mexico, I notice, is falling short of their production goals for crude. They only produced 2.767 million barrels a day in April, as opposed to a year ago, when production hit 3.182 million barrels a day. The story indicates that Mexico's production has consistently fallen short of goals, so there's nothing new there. I remember the Arab Oil Embargo of the '70s. There were long lines for gas, and stations routinely sold out. It was common to see gas stations with hand lettered signs that said "no gas." I don't see evidence of any such real shortage now. I admit that I didn't follow every one of the hundreds of links on that page. Did I miss something? A shortage that could account for a price rise from around 55 dollars a barrel in January of 2007 to more than 135 recently would have to be quite severe and widespread, it seems to me. That's a rise of nearly 150%. - Allen