Story of the Week, Month, Year, Decade...
Possibly the story of the century?
Stocks Extend Losses, Oil Hits New Record
Alternately, we can live in denial, prolonging the inevitable at terrible cost. We can steal oil from major oil-producing countries by taking them over using military force, and, like a cocaine addict who can't find his next fix, we can snort up even the dust from the carpet in hopes of not having to come down quite so soon. Unfortunately, while we do have the most powerful military in the world, we're not invincible. And wildlife refuges aren't as tough as carpets.
Drilling in the Arctic National Wildlife Refuge may cause permanent, irreparable damage, and endanger 20 species of mammals. If as much oil is found as oil industry experts predict, then in ten years after drilling begins, the US may get as much as 4% of our oil from ANWR. That's expected to reduce the price of gasoline by 0.3%, or less than 1 ¢ per gallon at today's prices.
We could easily save that much just by simple conservation--we wouldn't even have to [shudder] drive more fuel-efficient cars. Make sure your tires are properly inflated, folks.
And fasten your seat belts.
Stocks Extend Losses, Oil Hits New Record
NEW YORK (Reuters) - U.S. stocks extended their losses on Wednesday as crude oil futures set an all-time high on the New York Mercantile Exchange...The era of cheap oil is ending, and its ending renders the US economic model obsolete. If we want continued prosperity, we have to find a new model, one not dependent on fossil fuels. This requires conservation now, and ongoing efforts to develop "alternative" energy sources, such as wind, solar and nuclear fusion.
Alternately, we can live in denial, prolonging the inevitable at terrible cost. We can steal oil from major oil-producing countries by taking them over using military force, and, like a cocaine addict who can't find his next fix, we can snort up even the dust from the carpet in hopes of not having to come down quite so soon. Unfortunately, while we do have the most powerful military in the world, we're not invincible. And wildlife refuges aren't as tough as carpets.
Drilling in the Arctic National Wildlife Refuge may cause permanent, irreparable damage, and endanger 20 species of mammals. If as much oil is found as oil industry experts predict, then in ten years after drilling begins, the US may get as much as 4% of our oil from ANWR. That's expected to reduce the price of gasoline by 0.3%, or less than 1 ¢ per gallon at today's prices.
We could easily save that much just by simple conservation--we wouldn't even have to [shudder] drive more fuel-efficient cars. Make sure your tires are properly inflated, folks.
And fasten your seat belts.
posted by Warrior of the Woods at 9:00 AM
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