9/27/2005 10:59:00 PM | Author: baloghblog
I am very troubled at the president urging use to conserve. That's like the president urging letting the tax cuts for the rich expire to pay for the hurricane reconstruction. Both are logical responses to pressing issues, ideas that you would want a president to say, but in a weird way it worries me to have this president say it. (and I'll shit if I hear the tax cut expiration idea come out of his mouth.)

Damage done to many oil platforms and to natural gas sites from Rita and Katrina, but the price of oil is going lower on nymex.

The fed starts to change it's tune.

I have a feeling that something big is happening.

I am not the only one. Peaknik, Kunstler (as always), Sustenance (starting more indepth survival skills), and a new blog oilstories I found today are worried as well.
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On 8:21 AM , Anonymous said...

You're right. I DO feel unease. The message I got from CNBC was that interest rates cannot continue to increase along with energy costs without a serious slowdown in the economy. They were talking either inflation or deflation. That was the first time I've ever heard the word deflation (depression) on a mainstream outlet like CNBC! Of course it was all just speculation but I was SO surprised it was even mentioned. I bet hardly a person even caught it except for those of us aware of the present predicament.

My hospital that I work at also had a front page article in my local newspaper declaring the health insurance industry a complete chaotic mess ready for collapse. Quoted was the fact that 50% of all Indiana doctors are either relocating or retiring within the next year! Also quoted was the fact that Medicare was probably going to be cut another 4.5% in January and doctors are no longer taking sole Medicare patients because they don't want to absorb the costs. That leaves the non-profit county hospital having to absorb the cost. Not good for my little town's hospital who's just spent millions in renovations to attract business. We've been asked to cut staffing to a minimum and we're already the lowest paid nursing staff in the area! The perk was that it was better staffed in compensation for lower pay. This will be no longer and I bet nurses will leave for better jobs elsewhere.

In the long run, the healthcare industry is going to hurt--not out of lack of work but because it will be virtually unaffordable for patients and staff will leave such a high stress occupation if the pay goes lower and the work gets more difficult and unsafe. It's NOT looking good.

(who couldn't log on to publish for some odd reason)

On 12:17 PM , Jay said...

I feel weird about pretty much everything the president has to say because he no longer serves the people..

Why does he say everything besides.

"We have to STOP using oil and invest massively into renewables"

Growing hemp for fuel would boost the farming, national industry while providing low-cost fuel and increasing exports while destroying oil imports.

What are they waiting for?

Good Oil Stories Writer

On 5:17 PM , RomeHater said...

One problem is that both sides want both outcomes. Oil companies want oil prices to be high because the profit margins are large. People who want to go into renewables like high gas prices because it drives people to other sources. Politicians want low gas prices because it helps their approval ratings and economists know low energy prices keep the economy growing.

The prices of renewables are stable for now (although solar is poised for a jump in production costs). Either we spend a lot now when their more expensive or we spend a lot later when their cheaper than fossil fuels. It'll happen either way.