posted by Moon Pie
“ . . if there were a magic [oil] spigot, the US would behave the way the Spanish did when they had the magic gold supply or the way people in many
suddenly oil-rich countries behave now: As if the privilege is their right, so they do not need to work, learn, or improve in any way. [Edited by Don
W]
Nationalizing the oil (and all underground resources) would solve that problem in the biggest way. That process was interrupted in Iran in 1953 by the
US and GB and is the root cause of today’s Hezbollah and etc. if we had left the Iranians alone, we’d have a different world. Socialists don’t
engage in aggressive or pre-emptive wars. Why is that?
This is particularly evident in the behavior and opinions of those under 25, from whom I encounter the “I’m breathing; therefore, I deserve”
mentality all the time.
As a person of grand-parent age, I notice that. Yet it is not a simple problem to diagnose. Even more difficult is to pronounce a cure. It may be
somewhat reassuring to know that Socrates was killed because he excited and inspired the youth of Athens to rebel.
“ . . do you really want oil to cost less than $1 a barrel? I doubt it. Domestic production was held to the artificially low level of $6 a barrel
until the 1970s.
I’m not sure I can agree with your statement about “held” to a low price of $6 a bbl. The Texas Railroad Commission set the price of oil. Since
oil men own Texas, I don’t think the price was “held low” but rather the supply was held low to raise the price to $6.
The trip-wire for the Japanese attack on Pearl Harbor was our embargo of oil. We left the Japanese no option but to expand into Borneo and Indonesia -
both Dutch and English - and they knew we would not allow that. The Japanese believed the war would be short. They were wrong.
I will say this. I am surprised to see gasoline as cheap as it is. When you figure a bbl of crude costs $70 or more, and there are 42 gallons in a
bbl, and you cannot refine it 100%, then to get gas for $3 equals $126 per bbl.
The oil must be pumped, shipped by tanker, refined, re-shipped by pipeline and finally delivered by truck, then sold at retail. Royalties are paid and
profits are made. Darn little taxes. All out of the difference between $70 and $126, about 56 bucks.
[edit on 8/8/2006 by donwhite]