Tuesday, October 14, 2008

"Quote of the Week"

From the Energy Bulletin - Peak oil review - Oct 13

“Tightening credit and equity markets will slow the pace of investment [in expanded oil production] with smaller, independent producers and, potentially, several Russian operators seen as particularly at risk.”

Being the skeptic about our government that I am - I was wondering if there was something like this (and more) behind the financial crisis and bailout. If it was a problem with people not having money to pay their mortgages - then job programs and help for the people with the loans (refinance/better interest rates) would seem like the obvious fix. But I never figured that that was what it was about. That it would help the big oil companies is not a surprise.

Oh, and what do you know - many of the Wall Street type people think that all this means that we are supposed to put global warming on the back burner (as if that would cool it down).

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