What is a gallon of gasoline worth?
For that matter, what is anything worth? One correct answer is: “Whatever people are willing to pay for it.” Less than a year ago, we collectively explored the edge of the envelope on gasoline prices. It turns out that the value of the miracle elixir that propels the average family’s SUV 18 miles down the road has been established, by us, to be in the | Read More »
So you thought $4.00 was a lot for a gallon of gas??
Just wait. Just wait a little while. It’s axiomatic for conservatives, and other people with common sense, that if you want less of an activity, you tax it. If you want more, reduce the tax. Governor Jindal said that recently, but I’m sure he wasn’t the first. The oil and gas industry is tax advantaged. Historically, the government saw a benefit in encouraging drilling; tax | Read More »
Small Oil Producer in Need of Bailout
Never fear, Raul my friend, you have a friend in Washington. HAVANA — Cuba is still waiting for its offshore oil rush. It has been four years since U.S. experts said the island may sit atop nearly 10 billion barrels of deep-sea oil, revealing for Cuba an enormous economic Catch-22. Cuba needs the technical expertise of major Western oil companies to get to any of | Read More »
Overlooked Nominee for Best Animated Short Subject
If you’re like me & bored with the Oscars, check out this video: Horizontal Drilling Animation. Wall-E, it’s not. But it is informative, and it concerns a subject that affects us all. If you ever wondered how an oil or gas well is drilled, this will show you. Horizontal Drilling Animation [OK, they could have picked a punchier title] is designed to give the layperson | Read More »
Calling Bulls**t on Climate Change, Part II
In Part I of the series, we discovered that the International Panel on Climate Change (IPCC), in its 2007 Summary Report, scientifically considered certain uncertainties within its assessment, but they failed to do so in a comprehensive way. Al Gore’s conclusion that We Must Act Now! depends on all three of the following being True: Premise A: the earth is warming Premise B: mankind is | Read More »
Calling Bulls**t on Climate Change (But in a Rational, Open-Minded Way), Part I
In order to achieve the Ultimate State of Enlightenment re: Climate Change Policy, we have been encouraged to swallow Al Gore’s panicky conclusion (that We Must Act Now! to Combat AGW!) in one giant leap of faith. Doubters are marginalized with the label “Global Warming Deniers”. Using simple mathematical and decision-making principles, you, too, can be a bona-fide Climate Change Skeptic, and not a Global | Read More »
Rookie Energy Secretary Neglects to Read His Own Job Description
H/T Artie Nobel-laureate Energy Secretary Dr. Steven Chu apparently did not realize that lobbying OPEC on matters like price and production levels falls under his purview: Chu Retracts Comment That OPEC Isn’t His Domain, Cites Naivete U.S. Energy Secretary Steven Chu said today that lobbying OPEC on oil production is “not in my domain,” only to retract the statement hours later, citing his “naivete.” Chu, | Read More »
Uncle Hugo Plays Hardball With U.S. Drilling Firm
The downturn in energy prices is putting a cash flow squeeze on all producers, including the national oil companies. Many of them made long-term commitments to use equipment at dayrates reflective of $140 oil. Now, with oil at $40/bbl, those commitments made a mere 6 months ago seem short-sighted. Petrosucre, a joint venture of Venezuela’s state-owned oil company PdVSA and Italian giant ENI, entered in | Read More »
Obama Remarks Re: Energy and the Environment
H/T The Houston Chronicle, The OCS Bulletin Board Reprinted overleaf in their entirety. To recap: ENERGY DO’s: CAFE standards, high tire pressure, cute light bulbs, insulation (how long to pay that back?), investing in new green jobs (whatever those are), emphasis on the proven science of Climate Change ENERGY DON’Ts: Domestic oil, gas and coal, nuclear energy, ANWR, OCS, acting like a grownup $4.00/gallon gasoline | Read More »
Bush Green-Lights Cape Wind; Pass the Popcorn, Please!
Promoted from diaries, with some maniacal laughter mixed in. – Moe Lane. Yr humble correspondent recently provided a run-down on the Cape Wind Project, a private initiative to construct a 130-tower windfarm in Nantucket Sound. As it happens, offshore Massachusetts has the combined advantages of being ideally suited to wind power, while being relatively close to population centers. It has the distinct disadvantage of also | Read More »
Edwin Edwards’ (D-LA) Stay at the Crossbar Hotel Extended
Because I never tire of seeing former Gov. Edwin W. Edwards (D-LA) wearing the government-issue uniform that suits him so well. Edwin Edwards’ hopes for early release appear dim WASHINGTON — Edwin Edwards’ hopes for an early release from federal prison appeared dead Monday as President George W. Bush issued what top aides said would be his final acts of clemency with no mention of | Read More »
Wind Energy: How Con-veeen-ient!
T. Boone Pickens’ wind energy plan calls for blanketing the Great Plains, from the Texas Panhandle to the Dakotas. That’s because that’s where the wind resource is best, right? Wrong! That’s because “nobody lives there”, at least from the perspective of the good folks on the coasts and in the big cities. Putting all those wind turbines in the Plains creates at least two knotty | Read More »
Shades of 1984: Socialist International Expunges Carol Browner’s Links to Group
Promoted from Diaries. Freaking Commies: also, Gateway Pundit has the screenshot. – Moe Lane Former Clinton-era EPA Administrator Carol Browner has been tapped by our President-elect as “energy czar”, a position that is not subject to Senate confirmation. As reported by the Washington Times, as recently as last week Browner was listed as one of 14 leaders of the “Commission for a Sustainable World Society” | Read More »
Sometimes Oil Men Should Just Shut Up
Sometimes oil men and energy executives are a big disappointment. When times are good, they talk a good game about being free marketeers, “Just get out of our way; drill, baby, drill!” But when Washington starts passing out free money, they’re fighting like pigs at a trough for their more-than-fair share. You can bet, when they start suggesting government policy, they have an angle.
Rep. Joseph Cao (R-LA) in Washington: A Dose of Patriotic Upliftenment to Start Your Day
Promoted from diaries. – Moe Lane The story of newly-elected Congressman Anh “Joseph” Cao, Republican of the Second District of Louisiana, embodies everything good and optimistic about our Republic. Not only is it the story of his stunning upset victory over career kleptocrat William Jefferson, Democrat of New Orleans, it is the story of the hope that our wonderful country offers to the downtrodden and | Read More »
Business Journalism: Groping in the Dark for a Narrative
H/T My Boss, in an email late today titled “This is complete lunacy”: January 5, 2009 10:50am: Natural Gas Declines on Higher Temperatures, Ample U.S. Storage By Reg Curren Jan. 5 (Bloomberg) — Natural gas futures fell in New York as higher temperatures were forecast across most of the country this week, limiting demand for the heating fuel. Normal and above-normal temperatures are expected along | Read More »
‘Jena Six’ Defendant Shoots Self to Avoid Media Spotlight
Legitimate civil rights victims are in woefully short supply these days. Back in 2006, a cadre of progressive and minority rights agitators descended on the small town of Jena, LA, instantly transforming a group of high school thugs from troubled young perpetrators into Icons of the Civil Rights Movement. Police: ‘Jena Six’ teen shoots self, is treated A teen convicted in the “Jena Six” beating | Read More »
Minnesota: Banana Republic?
Minnesota enjoys a reputation as a progressive, highly-educated, hard-working paragon of Midwestern virtue. It is the polar opposite of my adopted home state of Louisiana. Minnesota is near the top on all the “good” quality-of-life lists. Louisiana is in the cellar, or nearly so, on the same lists. Minnesota’s 5.2 million citizens have a per capita tax burden ($2,890) that is #4 among the states, | Read More »
AGW Lunacy, Christmas Edition
Scientists warn Christmas lights harm the planet “For a zero-emission Christmas light show, you may consider using solar powered lights or sourcing your electricity from verified green power suppliers.” Just out of curiosity, does internet porn contribute to Global Warming? I haven’t seen that research, but Christmas is seasonal, whereas internet porn is a 24/7/365 enterprise. OTOH, $15 billion per year of government research may | Read More »
Barack Beefcake Photos: Is the Secret Service Doing Its Job?
Paparazzi photos of a vacationing Barack Obama and family appeared on the internet yesterday. Washington Post: Paparazzi Photog Gets a ‘Pec-tacular’ Obama Shot Which raises a few troubling questions: If someone can get that close to my President with a camera … oh, my Lord, I can’t even complete the thought. Assuming the Secret Service is capable and was doing its job, have we just | Read More »