I haven't posted in several days (4 to be exact). Just sat by - some what enthralled as I watched the march of the price of oil south. I'd never seen such a precipitous drop after such an exponential climb!
Bloomberg's last postings showed $124.23. It seems it's likely to go down even further.
And of course the price of gasoline is now heading below $3.50 per gallon.
The sigh of relief (more like a huge exhale - coming from millions of you who were holding your breath and gritting your teeth while bracing for the worst than can be imagined) .
I imagine for quite some time many, many you out there were wondering if this was all ever going to end. And now I'm sure you believe it will end.
But is this drop good for us? I don't think so. It is still teaching most of you out there that if you just gut-it-out things will eventually improve.
However, the only thing that has improved is the amount you are paying to pump it in your tanks. It hasn't solved the problem of the ever dwindling supply; it hasn't solved the problem of emissions being pumped out your ass end into the air; it hasn't solved the banking problems and the mortgage crisis. Global warming is still very much with us.
And those problems CAN'T be solved by "gutting-it-out".
Lubricious Latta has about finished his trip to the ANWR area - had his talk with Inuit there. They want the drilling for oil to start ASAP - as long as it doesn't hurt the animals (a major food source for them). After all that local economy looks like it's been in the tank for quite a while. One local said bread was going for $9.00 per loaf (talk about food crisis - right there it is)!
So, I am not surprised at that attitude. Heck - I imagine if somebody found a way to kick-restart buying gas guzzling Jeeps, the 5,000 who work on Stickney Road in Toledo's north end would want that to happen ASAP too. But as that wouldn't be good for the country in the long run, so too opening the ANWR to drilling would not be good for that land or the world in the long run. But for folks who've been living in that economic hell - any kind of relief is welcome - just like a thirsty man might welcome a cup full of saltwater - it'll slack his thirst right then and there. But oh, boy, what'll be happening to him in the long run!
But of course -most don't want think about the long run. Most just hope to get 'retired' by the time the fan hits the shit and want to leave it to their kids to fix the mess the soon-to-be retirees helped to make.
Johhnny Mac has gotten into the 'drill, drill, drill' mantra. Baree O. opposes it, but ain't got the guts to tell it like it is: the car culture has to end. But of course that won't put 'im in the big W.H. (which might become the W.C. if things really go south after the 'lection). Baree I think wants the car culture to keeping going, besides - like any rich dude he likes his luxury cars too. (Course it don't matter to me which one get the 'honor' of bein' 'lected - I ain't castin' my vote for either anyhow).
So, I'll just keep a-watchin' this fast drop in oil prices and see how far it goes until it bottoms out.
I do think most of you out there are coming to realize just how volatile it all is. But dreams of 'SUV Heaven' still dance in your head.
You've lucked out with Hurricane season so far: Dolly missed gasoline alley - but she did give a small part of it a glancing blow just to remind you all what will happen again some time. Bertha winged it out to sea and Cristobal went parallel to the eastern seaboard. So far the tracks of the storms look a lot like 2006 and 2007. But don't be fooled - 2008 is a heck of lot more active, so far, than it's two predecessors.
This is not going to be a repeat of 2005, but there still could be some big monster of a storm in our future - just a-waiting to emerge from it's hole in Africa or the south Caribbean with an eye on the Gulf in the next few weeks - once the season really gets cranking. If it does - this huge price drop could turn on itself and begin a new surge.
Which means that all of this may be nothing better than a reprieve. Kind of like how it is when the tide runs out real fast to reveal the sea's bottom. Ya might be awed by it, but it's also an indication of a huge tidal wave headed right for ya as ya stand on the beach gawking at the floppin' fishies.
Well at least one good thing has come out of the price drop - them that would have died under the usual circumstances got their lives spared due to less cars on the road. Of course them that would have died will never know that - it'd be impossible to determine exactly who would have bought the farm with oil flowing free and, relatively, cheap.
Bloomberg's last postings showed $124.23. It seems it's likely to go down even further.
And of course the price of gasoline is now heading below $3.50 per gallon.
The sigh of relief (more like a huge exhale - coming from millions of you who were holding your breath and gritting your teeth while bracing for the worst than can be imagined) .
I imagine for quite some time many, many you out there were wondering if this was all ever going to end. And now I'm sure you believe it will end.
But is this drop good for us? I don't think so. It is still teaching most of you out there that if you just gut-it-out things will eventually improve.
However, the only thing that has improved is the amount you are paying to pump it in your tanks. It hasn't solved the problem of the ever dwindling supply; it hasn't solved the problem of emissions being pumped out your ass end into the air; it hasn't solved the banking problems and the mortgage crisis. Global warming is still very much with us.
And those problems CAN'T be solved by "gutting-it-out".
Lubricious Latta has about finished his trip to the ANWR area - had his talk with Inuit there. They want the drilling for oil to start ASAP - as long as it doesn't hurt the animals (a major food source for them). After all that local economy looks like it's been in the tank for quite a while. One local said bread was going for $9.00 per loaf (talk about food crisis - right there it is)!
So, I am not surprised at that attitude. Heck - I imagine if somebody found a way to kick-restart buying gas guzzling Jeeps, the 5,000 who work on Stickney Road in Toledo's north end would want that to happen ASAP too. But as that wouldn't be good for the country in the long run, so too opening the ANWR to drilling would not be good for that land or the world in the long run. But for folks who've been living in that economic hell - any kind of relief is welcome - just like a thirsty man might welcome a cup full of saltwater - it'll slack his thirst right then and there. But oh, boy, what'll be happening to him in the long run!
But of course -most don't want think about the long run. Most just hope to get 'retired' by the time the fan hits the shit and want to leave it to their kids to fix the mess the soon-to-be retirees helped to make.
Johhnny Mac has gotten into the 'drill, drill, drill' mantra. Baree O. opposes it, but ain't got the guts to tell it like it is: the car culture has to end. But of course that won't put 'im in the big W.H. (which might become the W.C. if things really go south after the 'lection). Baree I think wants the car culture to keeping going, besides - like any rich dude he likes his luxury cars too. (Course it don't matter to me which one get the 'honor' of bein' 'lected - I ain't castin' my vote for either anyhow).
So, I'll just keep a-watchin' this fast drop in oil prices and see how far it goes until it bottoms out.
I do think most of you out there are coming to realize just how volatile it all is. But dreams of 'SUV Heaven' still dance in your head.
You've lucked out with Hurricane season so far: Dolly missed gasoline alley - but she did give a small part of it a glancing blow just to remind you all what will happen again some time. Bertha winged it out to sea and Cristobal went parallel to the eastern seaboard. So far the tracks of the storms look a lot like 2006 and 2007. But don't be fooled - 2008 is a heck of lot more active, so far, than it's two predecessors.
This is not going to be a repeat of 2005, but there still could be some big monster of a storm in our future - just a-waiting to emerge from it's hole in Africa or the south Caribbean with an eye on the Gulf in the next few weeks - once the season really gets cranking. If it does - this huge price drop could turn on itself and begin a new surge.
Which means that all of this may be nothing better than a reprieve. Kind of like how it is when the tide runs out real fast to reveal the sea's bottom. Ya might be awed by it, but it's also an indication of a huge tidal wave headed right for ya as ya stand on the beach gawking at the floppin' fishies.
Well at least one good thing has come out of the price drop - them that would have died under the usual circumstances got their lives spared due to less cars on the road. Of course them that would have died will never know that - it'd be impossible to determine exactly who would have bought the farm with oil flowing free and, relatively, cheap.
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