[Rhodes22-list] Makes sense to me (Oil)

[Brad Haslett]

Hank,

Newt make a lot of sense.  I generally don't agree with touching the
strategic oil reserve and I'm glad Bush 43 decided to fill it (and has plans
afoot in Mississippi to expand it) but I wouldn't mind seeing the
speculation community get their balls busted.  Asa Baber wrote an article in
Playboy magazine in the mid 70's about the commodity markets (I never met
Mr. Baber but he was a good friend of one of my students) and he basically
said that if you don't produce a commodity or use a commodity, you have no
business in speculating in that commodity (his examples were big farmers v
food producers).  Congress shouldn't get involved with one of their
over-the-top involvements in markets, BUT, burn the non-oil users and
producer speculators one time really good and they might just go hide for
awhile.  I'm guessing that about 25% of the current price is speculation but
if I really knew the answer, I'd be placing my bet on the NYMEX market right
now instead of playing Mr.Mom with  my daughter.

As to US reserves, he's dead on the money.  Get the 1.7 million acres of
coal back from Utah that Bill Clinton took off the market as a favor to his
Indonesian financial backers and go for the tar sands. Drilling on the
coasts wouldn't hurt a bit and I'll personally apologize to all 14 caribou
in ANWR.

If 'Baby Jesus from Chicago' really wants to make a difference in the energy
mix, start advocating importation of sugar based ethanol from Brazil where
we can buy it cheaper than we can from Archer Daniel Midlands (ADM), his
Illinois based constituent and provider of corporate jets for his travel.
McCain is just as clueless as Comrade Obama but at least he reversed his
course on offshore drilling.

On the other hand, horseshit doesn't smell that bad after awhile and my
father grew-up with that mode of transportation.  The Indians and the
Chinese aren't interested in turning-in their scooters and cars yet but hey,
aren't we Americans always supposed to lead the way?

Brad

On Tue, Jun 24, 2008 at 6:43 PM, Hank <hnw555 at gmail.com> wrote:

> Interesting - 3 ways to cut gas prices from Newt Gingrich
>
> http://youtube.com/watch?v=UOpcPfAarjY
>
> Hank
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