Bill Pelland
Joined: 25 Feb 2008 07:34 am
Posts: 224
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Posted: 30 Apr 2008 11:35 am
Post Subject: Re: Poor management Read Article
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Well there were several responses to my comments labeled "Poor Management" so I will try to respond by author.
Heidi Lockridge:
Nowhere in my response did I blame Bush for all the evil in my life. Actually I have a pretty nice life. My concerns center on the future America that my great grandson will inherit.
Nowhere in my letter did I advocate a windfall profits tax. In fact I would be opposed to that as it unfairly attacks an industry. Having said that though, I also see no reason to allow corporate welfare by giving Oil companies unneccessary tax breaks and tax credits. If it is free enterprise then make it so.
Finally, our entertainment (or lack thereof) is off subject.
Jim Johnson
You make some valid points but while China and India are contributing to increase demand and to some degree that does increase the price of oil, I still maintain the lower value of the dollar is a main contributing factor.
True we buy little oil from the European Union BUT we purchase oil in Dollars and the countries receiving those dollars do buy from the European Union. Therefore to maintain their buying power they need more dollars per barrell to maintain purchasing power.
The disposable society you speak of has been around a lot longer than ten years. However, while the economy seems to have done well up until this year the wages of the American worker have not kept pace. This has to do with our trade policies and allowing our jobs to be shipped not just to China but to India and other countries as well. Two of the scariest things about China is their military buildup and the fact that they are the second largest holder of US debt.
I do not just blame the Bush administration for our current situation except he got us into a war in Iraq that is now causing economic problems not to mention the fact that our military is stretched to the limit.
Congress's failure over the years to address the energy crisis, the global warming crisis, and over de-regulation is largely responsible. However, I do think the executive branch does have some control over setting agendas. Besides the Republicans controlled congress from 1994 to 2006.
The mortgage crisis became a problem not because of the fools who over extended themselves financially but more so because large, unregulated financial institutions were buying up these risky investments and were allowed to finance them without proper security. This is why the Federal Reserve had to arrange a buy out for Bear Sterns. Forgive the ignorant individuals but professional (and I use that term loosely) in the financials business should have known better.
By the way, I would have preferred the term "faulty reasoning' over 'ignorant reasoning'.
Bill Baja
It is true that no new refineries have been built since the 80's. What you fail to realize is that the oil companies have expanding existing refineries and the Energy Information Administration estimates an additional 800,000 barrels a day will be added to existing refineries in the next three years. A joint venture between Shell Oil Co. and the Saudi Arabian oil company is expected to double capacity at their Port Arthur refinery.
Congress has suggested we use some of our closed military bases for new refineries but the oil companies are not interested.
Mr. Wimberly
All I can say regarding your statement that when Government gets involved in free enterprise that prices skyrocket is that I think this is flawed logic. Some regulation is good and neccessary. Lately 80 people have died because of drugs imported from China and without oversight the manufacturer was able to substitute a fatal ingrediant to the manufacturing process. How much is a life worth?
Bill Pelland
Murchison Tx
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Bill Pelland
Murchison Tx
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