Oil / Credit crisis thought for discussion (vanity)

9/22/08 | diverteach

[diverteach]

While watching Glen Becks show tonight, particularly during his interview with T. Boone Pickens, there were those notorious figures thrown about during the discussion, that being of the governments bailout of the credit crisis of $700 billion and the fact that we currently send $700 billion out of the country for foriegn oil.

I firmly believe that the oil crisis is NOT a supply problem but is instead tied directly to the value of the dollar.

It doesn't take an economic genius to look back and see the correlation.

Like many here I am appalled at the socialization currently taking place with us footing the bill.

As far as the oil we have available to us here in our own country I'm wondering how or why we couldn't use that oil to help with the credit crisis. It belongs to us and not the oil companies.

If it can stabilize the markets and put confidence back in the greenback bringing back it's value, oil prices will fall. Kill two birds with one stone.

[diverteach]

What are your thoughts and input on this?

[xcamel]

A) I wish T.Boone would drop dead. He’s on the wrong track, and the train isn’t far off..
B) What would one cause the $2 trillion in purchases of foreign goods and services, by willing buyers in US? A “wealth transfer” ?? I think not.

[mysterio]

1. Increase oil supply.

2. Stop federal spending and vote out anyone who advocates more spending.

3. Balanced budget Amendment now; no more borrowing.

4. Start paying down the debt.

5. NSF money for independent scientists working with alternative fuels so we can give oil a viable competitor.

That's what I think.

And we are so far from doing any of those things.

[Man50D]

Like many here I am appalled at the socialization currently taking place with us footing the bill.

I've been appalled for some time at the increasing appeasement towards socialists by the GOP in an effort expand the latter's voter base to the point where they are essentially one party ideologically . This latest socialist maneuver merely reflects the ideological merger.

[xcamel]

cause call

[CIDKauf]

The oil problem IS a supply problem. As India and China become more “western like” or “affluent”, and as they drive more as individuals, the demand for oil is increasing every year. The price will go up unless supply increases to meet the new yearly demand...its just Econ 101. However, add into the equation that China is not a member of the International Monetary Fund, and values its currency as it sees fit, then we will continue to lack a more balanced foriegn trade deficit. Both these problems can be mitigated if we drill for oil domestically (and pay AMERICANS for the oil and not Arabs) DRILL HERE - DRILL NOW - PAY LESS. How did we get so affluent in the first place...was it because we used to pay Aamericans for almost everything? Now we pay foriegners for almost everything.