Presidential hopeful McCain is really pushing for Congress to return to session to work on the proposed bill for drilling oil offshore. This is being resisted by the Speaker of the House among others.
It sounds like a reasonable solution to our “oil additction” as the media calls it. I do not believe it should be the only proposal on the table. First of all it is a long term solution, not a short term one. It will take years to drill and what about a platform necessary to to take care of the oil drilled. What about refineries – it takes about 10 years to build a new one to handle this new flow. One might say we would not need a new refinery because the new oil will take its place instead of imported oil. Yet we must remember our need for oil and all of it’s by products is only increasing.
Senator John McCain needs more to his energy plan than offshore drilling.
T. Boone Pickens has been telling of his plans to help our energy struggle and dependence on foreign oil. Even his plan will help in 5 to 7 years. I think his plans are noteworthy but the cost is also high. I do believe we should reduce in any way we can our need for foreign oil though.
Alternative energy – bottom line – is going to cost plenty which with its use will still be costly to us as well. So doubtful we will see any huge price reductions no matter what solutions are implemented. Yet it will be worth it because we should not be so needy with oil producing areas in nations that do not share our political beliefs.
“Oil Addiction” – the use of this term is not accurate. Gas for our vehicles is not an addiction – it is a necessity to get around in this country. Most of the northeast heats their home with heating oil which comes from crude oil. I hardly call that an addiction. Diesel fuel is not an addiction for our 18 wheelers that transport goods all across this country – it is an absolute necessity. This list could go on and on.
We have seen the price of crude oil come down several weeks in a row now which is very good for us as consumers. The crisis now in Georgia with Russia could certainly be the catalyst to start oil prices to rise again. We will just have to wait and see.
It is so sad that this country did not address energy issues years ago. But the price of crude oil was so very low and alternative solutions still costly, so we did nothing. Regardless of plans it is still going to be an economic drain on all of us. Generally once prices for food, for an example, go up, they do not come down and if they do it won’t be even close to the prices we paid a couple of years ago.
The American people ae still going to be struggling in their personal finances. Even the analysts are still expecting another 20% increase in foreclosures and housing values will also to continue decreasing for a while longer. How much longer no one is really saying. In essence we have not reached the bottom yet.
Many I talk with are very concerned for the elderly this winter with the high price in heating oil. But Americans of all ages are in a financial crisis in varying degrees. Our excessive credit card debt isn’t helping either. There are no real answers as to how any of us will resolve this issue. Jobs are not plentiful right now and many are already working 2 jobs.
It is important in this critical time to really be on top of our spending. I have an article published on Helium “How to Avoid Debt” which you might want to read. I will provide the link below. Reducing our spending in any area will be a help. I would imagine bankrupticies will begin to increase as we try to salvage our economic lives. I don’t how difficult that might be in view of the recently revised laws.
Americans are resilient and I know we will be very creative and we will make it. We will survive. So don’t worry because when you worry your ability to think reasonably and logically is severely impaired. We will be diligent to do all we can do.
So keep smiling, it is a beautiful Sunny Day.
Jm
You may also visit helium.com/users446975 to read other articles I have published on various topics.
