It only took a small shortfall of oil supplies below demand to send oil over $140/barrel last summer, and a small excess over demand to send oil to $40/barrel recently. If the economy picks up just a little, with the requirements for many gasoline blends in spring, what went down might just go back up.
Steve Z on February 11, 2009 at 1:44 PM

Assuming TAO is right and the stimulus restores full employment for 4 million people, demand will rise. To whit, Americans drove 9 billion fewer miles last October than they did the year before. How much does anyone wanna bet that crude will blow past $200/barrel?

Bob Dylan was wrong. The answer ain’t blowin’ in the wind, it’s Drill Baby Drill.

There were quite a few Republicans who voted for him for Senator over Pete Coors thinking that he was a native Colorado man with solid, moderate values. Ha! He did nothing but vote the party line and take away development of our natural resources. Bet those people are sorry now!

Have you ever wondered what economists talk about in email conversations? Now you know. Seriously, though, this guy’s modeling seems to match up pretty well with what the CBO was saying.The stimulus has a big effect in 2010, but by……

Said it before, Ill say it again, Obama is a traitor.

Viper1 on February 11, 2009 at 7:25 AM

Agreed…

Energy rationing ahead …

tarpon on February 11, 2009 at 7:56 AM

Carter II

But don’t rule out Soros to come in and save his ass have been given advance info so that he could make a killing….

Seven Percent Solution on February 11, 2009 at 2:58 AM

-
Amended…

Remember? McCain doesn’t believe in drilling, either. And he was all for the pork-laden bailout. Not to mention open borders, limits on free speech, hamstringing capitalism. At least the libs have put us on their dream of a road to ruin under a (D).

That’s this country’s only shot to wake the hell up as to what we’re up against and who the enemy really is.

So, in your opinion, we can only talk about things that are important in your eyes?

with almost no consultation from states, industry or community input,” Salazar said at a news conference in Washington. “In my view it was a headlong rush of the worst kind.”

I thought he was talking about the “stimulus” package. My bad.

These guys are trying to PUSH through 3 TRILLION dollars (more than the cost of ALL US WARS COMBINED) of spending in their first two weeks. Yet drilling for oil over the next 20 years is a ‘rushed decision’?

ThackerAgency on February 11, 2009 at 2:05 AM

Boggles the mind, doesn’t it.

Obama has to know that implementation of his ‘green’ ideology will send energy prices ballistic, and that in turn will strangle the economy for decades to come. He can’t possibly be so naive as not to realize this, can he?

If he realizes the consequences, yet chooses to proceed anyway, what could he possibly be thinking?

……. if they go up, and we start paying more for a gallon of gas, this is on Mr. Obama, the child president.

But don’t rule out Soros to come in and save his ass….

The AMAZING thing to me is the N-E-R-V-E of these guys complaining that we can’t ‘RUSH’

“In my view it was a headlong rush of the worst kind.”…

These guys are trying to PUSH through 3 TRILLION dollars (more than the cost of ALL US WARS COMBINED) of spending in their first two weeks. Yet drilling for oil over the next 20 years is a ‘rushed decision’?

The nerve of these people is amazing. Obama is a novice, and he’s going to fall like a stone when his popularity fades (soon). He’ll wish he wasn’t president.

An indication that the US is serious about developing its own energy will drive down gas prices now and in the future. It will make more sense for producers to get their limited oil out of the ground now, rather than waiting for a time in which there will be more competition. Obviously, more domestic drilling would enable us to better weather oil shocks. Finally, the world economy may radically improve in 10 years. We cannot develop such a short-sighted policy.

Given the fact that the only bright spot in this recession is that families are able to put gas in their cars and heat their homes, this is particularly dumb.

“Game” was something later in life for me…Dad was against hunting, WWII combat vet Bronze Star holder…
He said if I gave the deer a gun he let me get one…you know the story… got to get up early…enjoy the read.

Best chile I ever made was from bear meat, game is actually easier to cook than supermarket meat when you know the tricks and far far better. I ate more venison, rabbit squirrel, dove, bass, brim and even possum growing up than I did store bought meat.

It has not come through yet maybe the folder size is slowing it down. did you add the dot com on the end? Grin