The Man of a Thousand Excuses
Have you heard the latest from our esteemed leader on the nation's most vexing issue—the astronomical price of a gallon of gas? Well, it seems that this pesky situation has absolutely nothing to do with the President's policies. Apparently, the precipitous climb—a near tripling since he took office—is very likely the fault of fraud and/or manipulation. Don't worry though; The Big O has put The Big E on the case. Yep, the rooter outer of all that is evil, Eric Holder, will surely hold those greedy speculators to account—just like he did Marc Rich and the Black Panthers, among others.
Another government commission. Ye ha! Betcha Barry doesn't ignore their 'findings' like he did the Deficit Commission's.
What an exercise their review promises to be. Talk about a stacked deck—a group of anti-capitalists evaluating the legitimate role of speculation and speculators in a free market system. Yeah, that should work out real well for oil and gas traders.
Of course, the irony of it all is completely lost on Obama and his minions. Needless to say, they're too myopic and ideological to recognize that the very hyper-volatility they decry is, in part, the direct, logical, and legal result of the market's lack of confidence in their ability to adequately address the situation. They just don't understand the legitimacy of hedging risk, and more importantly, that said risk is deemed ultra high right now because of their indecisiveness, incoherence, intransigence, and incompetence. In fact, it would be irresponsible for speculators not to hedge against the potential major disruptions and uncertainties made frighteningly possible by such cluelessness in the Oval Office.
The President said there is no "silver bullet" that will solve the energy crisis in the short term.
Who doesn't think we would see the beginnings of a price reversal almost immediately if tomorrow it was announced that the United States is ready to fully exploit its vast (largest in the world) energy reserves?
Unfortunately, the definitive answer will have to wait until 2012 or beyond.
Until then, prepare yourself for a lot more of the blame game from Uncle Sam...er...President Obama.
Sorry, wrong finger pointer.
Another government commission. Ye ha! Betcha Barry doesn't ignore their 'findings' like he did the Deficit Commission's.
What an exercise their review promises to be. Talk about a stacked deck—a group of anti-capitalists evaluating the legitimate role of speculation and speculators in a free market system. Yeah, that should work out real well for oil and gas traders.
Of course, the irony of it all is completely lost on Obama and his minions. Needless to say, they're too myopic and ideological to recognize that the very hyper-volatility they decry is, in part, the direct, logical, and legal result of the market's lack of confidence in their ability to adequately address the situation. They just don't understand the legitimacy of hedging risk, and more importantly, that said risk is deemed ultra high right now because of their indecisiveness, incoherence, intransigence, and incompetence. In fact, it would be irresponsible for speculators not to hedge against the potential major disruptions and uncertainties made frighteningly possible by such cluelessness in the Oval Office.
The President said there is no "silver bullet" that will solve the energy crisis in the short term.
Who doesn't think we would see the beginnings of a price reversal almost immediately if tomorrow it was announced that the United States is ready to fully exploit its vast (largest in the world) energy reserves?
Unfortunately, the definitive answer will have to wait until 2012 or beyond.
Until then, prepare yourself for a lot more of the blame game from Uncle Sam...er...President Obama.
Sorry, wrong finger pointer.
$6 a gallon. Just digest that for a few minutes. Road rage will take on a whole new meaning. Intense, prolonged anger applied to our energy crisis will actually create the kind of behavioral shift that's going to be required to force us into a new energy consumption paradigm. Like they say, necessity is the mother of invention. But prior to that invention will be a deep, prolonged and sustained mob-like anger that will be the precursor to the collective mental activity that will ultimately drive the critical mass of change to spawn alternatives in transportation and energy consumption. Until then we can just keep whining about the Middle East, taxes, the price of oil and gas MPG of SUVs, healthcare and whatever else we choose to collectively toss into the political barf-0-rama and barak-O-bama arena. But until we get good and pissed off about the price of a gallon of gas nothing will substantially change our current transportation and energy consumption model and behavior. It cost me $90 to fill up my car the other day. I was pretty pissed but I got over it. If it cost me $145 to fill up my car … I’d be really pissed. I might even break something. We’re starting to reach the threshold of pain but we’re not quite there yet. Soon though.
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