There Is No Gas Shortage

[TexasEditor]

Oops, I see this has already been posted, sorry.

There Is No Gas Shortage
But Washington, Wall Street, and ethanol and oil and gas companies want you to think there is, says automotive expert Ed Wallace

by Ed Wallace

Part 1:
http://www.businessweek.com/lifestyle/content/apr2008/bw2008041_945564.htm

Part 2:
http://www.businessweek.com/lifestyle/content/apr2008/bw20080422_520796.htm?chan=rss_topStories_ssi_5

[glowing]

1. Of course there's not.. They've built a speculative market around oil,

much like the insurance co do around your car and house. There is less demand than there is supply. Which is one of the reasons OPEC slowed down production. We are using a lot less gas to compensate.. so, they increase the rates to stay profitable.. all on a probability... this is what congress needs to investigate and decide if it is legal.

[liberal N proud]

2. If there were a gas shortage we would see lines at the gas pump

and rationing.

The so called Peak Oil is designed simply for profit of the oil companies.

[Hydra]

5. Thanks for saying it

Peak oil has become a religion, and many people who should know better(environmentalists, for instance) are lapping it up. Saudi King Abdullah announce the other day that they are opting to keep oil in the ground "for future generations."

I've always said that the issue wasn't about whether we are running out of oil or not- it's the matter of "Why are we still using such a toxic substance?"

[jgraz]

3. Enron all over again

And the press is just rolling over for it.

[dweller]

4. oil cons are refining less this year than last year

heard this on the corporate owned news the other morning, so it must be true...

dp

[OmahaBlueDog]

6. Don't forget the weak dollar

As the dollar plunges (due to Ben Bernanke printing the stuff up in a basement as a solution to our economic woes), imported oil and every product depenndent upon it will rise. You have massive speculation in oil on top of that -- again (in part) because people are trying to hedge against the ever weakening dollar.

And also -- big news here -- there isn't a food "shortage" either. Even with ethanol, we have plenty of corn. What we have are speculators and other vultures driving up staple food prices because they feel they can get away with it. IMO, the limits on rice buying (ostensibly to ensure suply for Americans) are really aimed at folks here who want to, for example, ship pallets of bagged rice from Costcos in Florida back home to Haiti. This type of action really screws up the plans of those who want to use unrest and disorder to get better deals in foreign countries.

[Speck Tater]

7. There is no global warming. There is no evolution. The earth is flat. NT

[Mojorabbit]

8. and oil is not a finite resource. n/t

[Speck Tater]

9. $225 a barrel by 2012

http://www.cnbc.com/id/15840232?video=721421158&play=1