Posted on 09/05/2006 7:05:37 AM PDT by seasoned traditionalist
Next time you stop at the pump and pay through-the-stratosphere prices to fill your car's tank, just ponder this: We are not — repeat, we are not running out of oil. There is no good reason you should be paying through the nose. There are only bad reasons for it. If you are also angry about illegal aliens pouring over the border, you should know that illegal immigration is the price we are paying to keep to keep gas prices from going even higher, maybe two or three times higher.
(Excerpt) Read more at renewamerica.us ...
Oh sheesh, high oil prices is the immigrants fault? What about the mostly white bread envirowhackos, they are the ones for the cause of high gas prices.
As for Mexico's potential, that is largly dependent on foreign oil companies(hopefully US) developing that potential because Mexico doesn't have the technology or capital to do it.
As for this book, it is just another stoooopid attempt to weave a conspiracy theory so Corsi can sell books and Craig Smith can sell gold to the kooks.
It's amazing the economic ignorance by some on FR(not you SV).
From: http://www.freerepublic.com/focus/f-news/1695726/posts
The Journal said Chevron and Devon officials estimate that recent discoveries in the Gulf of Mexico's lower-tertiary formations hold up to 15 billion barrels' worth of oil and gas reserves, a total that would boost the nation's current reserves by 50 percent.
Where were you in the 70's? Gas was never $3.oo or even $2.oo per gallon. At least not in Texas.
That is tremendous. Thanks for the heads up!
The poster was talking about inflation adjusted prices. IIRC, 1981 still holds the record as the year of the highest gasoline prices.
Agreed the general thrust of this statement, but there is another possible value in Gold's perspecive on the genesis of oil from primordial sources, and that is that we might gain some insigts as to where to look. This might very well be marginal, because oil trapping formations would work the same regardless of whether the oil is of geological origin or biobenic origin, but still there might be a discovery or two in there.
Check this out:
http://biz.yahoo.com/ap/060905/major_oil_discovery.html?.v=10
New oil find in Gulf of Mexico could boost U.S. reserves by 50%!
they ought to mark this one political incest alert....
BS. Gas prices are high, but nothing compared to what they were in the 70s.
Really? I don't know how old you are, but I can remember "vividly" the jump in prices (DOUBLING) in the early 70's (as I had just got out of an 8 year enlistment in AF) and had started working in the Insurance Business, which I ended up getting out of because gas prices were killing me.
I also remember paying as little as 18 cents a gallon when I started driving in 1959.
Okay, I know what you (and others) will suggest as to the value of a dollar today, in 1970's terms.
Thus, read on McDuff!!!
http://www.1970sflashback.com/1976/Economy.asp
Category
Economy / Prices
1976 Economy / Prices
Economy
President: Gerald R. Ford
Vice President: Nelson A. Rockefeller
Population: 218,035,164
Life expectancy: 72.9 years
Federal spending: $371.79 billion
Federal debt: $629.0 billion
Inflation: 8.7%
Consumer Price Index: 56.9 Unemployment: 8.5%
Prices
Cost of a new home: $48,000.00
Median Household Income: $12,686.00
Cost of a first-class stamp: $0.13
Cost of a gallon of regular gas: $0.59
Cost of a dozen eggs: $0.84
Cost of a gallon of Milk: $1.65
Allowance for inflation
The allowance of $0.59 you received in 1976 would be worth $1.99 today.
http://cgi.money.cnn.com/tools/allowance/allowance_101.html?step=calced&templName=allowance.html&resultsmode=3&allowance=.59&year=1976
Thus, I don't know WHERE you are buying your gas, but please let us ALL know as there are a few of us out here, who are paying just a mite over $1.99 a gallon.
Bogus argument in this article.
Gas costs what is costs because consumers are willing to pay that price. The argument that gas prices are high due to some supply problem is not valid. Has anyone seen widespread "We Have No Gas" signs in front of filling stations?
The number of illegal aliens in this country has little to do with the price of gas. It has a lot more to do with the amount of spine in the backs of our politicians.
You may be correct, but I do not think that we should sell our country/culture down the river by allowing illegals in exchange for oil.
.
The only way these numbers work out is by assuming an average inflation rate of 4.14% from '76 to '06, compounded annually.
A quick look at your own post give the inflation in '76 at 8.7%. Inflation during the Carter presidency was double digit, and even during the Reagan administration generally exceeded 5%.
With an average inflation rate of just 6% the price of gasoline would be $3.39.
In reality we are not "slaves to oil". Find me an energy source that can get my family of four from Austin to Dallas in 3 hours in relative comfort for $20, and I might consider changing. Right now there is none. Its by far the cheapest/safest/most convienent energy source we have.
Until that dynamic changes we will continue to use oil. And frankly I do not have a problem with that.
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