Wall Street Succumbs to Peak Oil - US News & World Report

[Subdivisions]

http://www.usnews.com/blogs/capital-commerce/2008/05/22/wall-street-succumbs-to-peak-oil.html">Please DU this poll which asks "What is the main cause of the sharp rise in oil prices?"

From the reader comments:

Peak oil,speculation,global economic growth,oilcompany conspiracy, OPEC, and fear of a war with Iran are all indeed reasons for the rising price of oil, but.... they are all amplified and extended by one factor, U.S. energy policy (or lack thereof).

Jimmy Carter had an energy policy, he was the 1st and last president since WWII to realize that natural resources matter. Love him or hate him, he put solar panels on the whitehouse roof (which Reagan soon had taken down)

We are in the pickle we are in, because the financial barons are too pigheaded to allow any one else to make a buck., Speculation is destroying our economic system helped by massive leveraging and an impotent and useless Federal Reserve that can only throw more bundles of dollars on the dying embers.

We need investment in this country, not China, not India, not Mexico to put people to work rebuilding our country and building new mass transit systems and alternative energy systems. We have seen the folly of a single source energy system such as fossil fuels - we are at the mercy of the market and if everyone uses the same limited fuels, the price can only go up. The only solution is to devise the means and processes to use the unlimited resources available, namely wind, water and sun.

The tides, the Sun, and the wind will be our saving grace if we make the effort and spend our reserves wisely instead of the meaningless games of petty men who seek to own more toys before they die.

The choices are ours and laid bare before our feet, will we be wise enough to pick them up before the lights go out?

Also on the subject:

http://online.wsj.com/article/SB121139527250011387.html?mod=WSJBlog">Energy Watchdog Warns
Of Oil-Production Crunch>

http://www.salon.com/tech/htww/2008/05/22/wall_street_journal_peak_oil/index.html">The Wall Street Peak Oil Journal - Salon.com

http://www.smh.com.au/news/world/peak-oil-hits-new-heights-and-the-view-is-not-pretty/2008/05/23/1211183102727.html">Peak oil hits new heights and the view is not pretty

http://ap.google.com/article/ALeqM5j7iBsihdN-5m9SKFDTluCOnTAlHQD90QR5GG6">IEA worried over oil supply

http://www.thedailygreen.com/environmental-news/latest/peak-oil-47052210">IEA To Study Peak Oil As Supply Falls Short of Demand

http://www.alternet.org/environment/85841/">Why Dems and Republicans Are Afraid of Two Words: Peak Oil

http://seekingalpha.com/article/78362-peak-oil-stocks-for-the-future">Peak Oil Stocks for the Future

http://www.lifeaftertheoilcrash.net">Life After the Oil Crash

http://www.theoildrum.com">The Oil Drum

[Mountainman]

1. The federal government should do what provide industry refuses to do.

If we get a Dem president and a large enough Dem congress, we could start to build fuel efficient cars by taking over the closed auto factories and hiring people to work there. The government should compete with industry by building cars that would out sell them.

Also send kids to college and teach them the science they need to replace fossil fuels. We should not stand around waiting for private industry to do it. Use tax dollars and instead of fighting a war on terror fight a war to increase the middle class!

[DCKit]

2. But that guy from Big Oil said they reinvest every cent of profit.

If you can't believe the word of a multi-millionaire CEO of an oil company (or tobacco co.), who can you believe?

[Mountainman]

3. I think that's right, they invest every cent, in luxury cars, yachts, planes, homes, real estate,

jewels, travel, ........... you get the picture.

[DCKit]

4. You neglected to mention POLITICIANS.

The list of beneficiaries is long and quite revealing.