Have you heard of price fixing. Oil demand has remained fairly constant year over year. However, demand is slightly lower in 2007 over 2006. This would argue for a softening of prices but for price fixing. price fixing has been an element of the oil business since the 1930s. Nothing has really changed.

The real problem (7) with the current and the eventual prices of oil is that it is a finite product, with a finite supply, which, when drained, will force the US (and the rest of the world) to use some other energy resources or substitutes. Most reliable estimates of oil supplies are that they've peaked worldwide - perhaps even in Saudi Arabia - and that by the middle of this century supplies will have sharply declined: in the face of burgeoning demands for black gold in China, India, and elsewhere. In short, there's every reason to find environmentally friendly substitutes for oil, starting now.

In other news, panelists at a major American university open a panel to discuss whether the sky is in fact blue. Tune in at eleven, when we post their findings regarding the wetness of water.

The price of butter goes up, you switch to margerine! In 1979, I was working on a project here in Colorado for the US Department of Energy, to make the United States Energy self sufficient! The Carter Administration realized that you depend on unfriendly sources for something that is very important to you!
Well our Great Fearless Leader, Ronald Regan killed the program because "the US Government has no business in the Energy Business"! So here we are today! If this project had been completed we would be able to tell OPEC, "We'll call you if we need any oil"!

YOU'RE SERIOUS, RIGHT...?? YOU DON'T NEED TO BE A GENIUS TO ANSWER THAT. THE OIL LOBBY OWNS CONGRESS AND HAS SINCE CHRIST WAS A CORPORAL...
DEMAND IS DOWN FOR GASOLINE (NO ONE CAN AFFORD TO "FILL UP" ANY MORE), WE HAVE WARMER THAN NORMAL TEMPERATURES, YET HEATING OIL SUPPLIES ARE "TIGHT", CRUDE PRICES HAVE BEEN DOWN OVER $10 A BARREL FOR OVER A WEEK, YET GAS PRICES HAVENT DROPPED IN PROPORTION TO THE CHANGE WHEN IT'S RISING (3 CENTS A GALLON FOR EVERY $1 A BARREL INCREASE IN CRUDE) AND YOU ASK IF PRICE FIXING IS GOING ON,,,???????
IT'S GOOD TO KNOW SOMEONE WILL BE ABLE TO WRITE FOR THE COMEDIANS IF THE WRITERS STRIKE CONTINUES....

BY THE WAY... HAS ANYONE HEARD A PEEP FROM THE PRESIDENTIAL WANNA BE'S ABOUT GAS OR OIL PRICES...??? DIDN'T THINK SO.....

There is more to this than "Price Fixing." In the event of a major attack, this country does not have enough oil to defend itself. Shell Oil's CEO reports that his company is only allowed to drill in 15% of the known oil reserves. These high energy prices are taking anywhere from several hundred dollars a month to thousands and is leading to the collapse of the American economy. Once the economy collapses, were is the government going to get tax revenue?

I have been friend's since my teens with a man whose father was the CEO of an oil company, and my wife was good friend's with the CEO's wife of Texaco and spent time in both of their homes. They weren't the people you descibe but good patriotic citizens.

Back in the late 1890's there were reports that oil was going to run out. Now oil reserves larger than the Saudi fields have been discovered in the Eastern Gulf of Mexico and the Arctic that will supply Americas needs for the next seventy five years. Many geologists feel that the earth constantly produces petroleum as a natural resource that will supply all the worlds needs for a thousand years!