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Politics : GOPwinger Lies/Distortions/Omissions/Perversions of Truth -- Ignore unavailable to you. Want to Upgrade?

To: SeachRE who wrote (128050)	7/6/2008 12:25:05 PM
From: tonto	Read Replies (1) \| Respond to of 173976

Chevron’s O’Reilly: Global Oil Demand is the Culprit Posted by Keith Johnson Chevron boss David O’Reilly has reached a sobering conclusion: The days of cheap oil really are over. Mr. O’Reilly is hardly a peak-oil proponent, even as some of his Big Oil colleagues have made peakish noises. In an interview with the WSJ (sub reqd.), Mr. O’Reilly, who’s seen crude prices increase five-fold on his watch, said oil won’t return to the halcyon days of the 1990s. That’s not because of a lack of supply—in contrast to other O’Reilly theories on oil—but rather because of relentless global demand growth. Chevron CEO David O’Reilly (Associated Press) Three years ago, Mr. O’Reilly made waves by warning cheap oil was a memory, but it went on to more than double in price since then. The WSJ asked him to peer into the crystal ball again: Mr. O’Reilly: I can’t predict what the price is going to be. You would have to tell me what the economic situation in the world is going to be a year from now. I don’t think it is going to get back to those relatively low levels we experienced in the late ’90s and early 2000s. WSJ: Ever? Mr. O’Reilly: No. But what are the implications of higher oil prices—beyond bigger profits for oil companies? In the U.S., Mr. O’Reilly says there are already signs of changing behavior, with people trading gas-guzzling cars for smaller models and using less fuel. He’s even changed cars himself, though he admits “I’m not driving in a Prius, if that’s what you’re asking.” But that alone won’t do much to alter the global oil dynamics. More people driving in more countries cancels out small efficiency gains elsewhere. Developing countries’ thirst for oil in particular knows no bounds, he said: I was in Turkey a couple of months ago. The price of gasoline is almost $11 a gallon. They’re selling a record number of automobiles. Traffic is backed up all over Istanbul. Theoretically, he said in the audio portion of the interview, higher oil prices should “attract alternative energy,” such as the “tremendous effort going into wind [power] in this country.” Even though Chevron doesn’t stand to make any money off wind power, that’s still “a healthy thing,” Mr. O’Reilly said, because the world needs both fossil fuels and alternative energy to keep working. But that’s the big question—do higher oil prices really drive more alternative energy? Not always, it seems. Stay tuned. Permalink \| Trackback URL: blogs.wsj.com S Even Mr. O’Reilly(Chevron's CEO) says that he still can’t get his head around current oil prices, which closed above $145 a barrel on Thursday, a record.“We can see how you can get to $100,” he says. “At $140, I just don’t know how to explain it. We’re surprised." (NYT)

To: SeachRE who wrote (128050)	7/6/2008 1:47:37 PM
From: American Spirit	Read Replies (1) \| Respond to of 173976

Bush-Cheney and big oil conspired for $5 gasoline since day one. When Bush-Cheney first got into power, I remember a video tape someone made of that corrupt oil pimp senator from Alaska complainging that oil and gas prices need to be higher, much higher. He complained that with Clinton era prices so low the public wouldn't accept drilling in wilderness areas nor deregulating environmental standards. So he wanted them high, higher, hgighest. And Bush-Cheney are both part of the oil cartel. They are pimps, whores and standard bearers for the gas gougers. They have screwed us royally and are trying to gouge as much money as they can while they can before Obama and a new democratic dominated congress gets into power.