Listening to: Somewhere Out There, Linda Ronstadt and James Ingram
Thinking of:
Listening to this song, I can't help but to think of a friend who passed on early in life. It was his favorite song...
Oil prices soaring, the need for black gold intensifies and the blame placed on growing economies and the quickly expanding population of the new rich. Should OPEC allow an increase in production to ease the sky rocketing prices?
When some progress takes place in a part of the world contributing to this sudden increase, this in turn gives a blow to the rest of the world resulting in sudden increase in production, operating costs... Resulting in increasing prices of other material goods to the general public, reducing sale and hence, retards growth or maybe even resulting in a negative growth.
However, to be blamed are also oil companies themselves. Since switching to lean production methods, eliminating buffer stock to its absolute minimum, a sharp spike in demand would send shockwaves through the industry resulting in a haphazard method of resolving the situation. Doesn't help as well that Yukos, is hit by a tax bill of 3.4 billion dollars and may have to cut production in order to pay the bill. Civil unrest in Nigeria and strikes in Venezuela... no help there. A revision to Shell's oil reserves also threatening
However, all of that said... I'm sorry to say that America has a big portion of the blame for not releasing enough oil reserves as well as the lack of efficient automotive technology (think gigantic SUVs with 6 liter engines, consuming fuel like there is no tomorrow). A civilization that consists of 293 million as compared the world population of 6.3 billion people consuming 45% of the crude oil resources. Causing 33% of the quantity of carbon dioxide released into the atmosphere, while relieving most of the world from its natural resources like a giant ogre with a perpetual voracious appetite.
I was just thinking as well about the lottery a minute ago... The chances of winning the money is so small, its negligible in most cases... However someone has to win it somehow. Could it be me? Hahaha... not unless I actually buy a ticket. Oh well, cest la vie...
Thinking of:
Listening to this song, I can't help but to think of a friend who passed on early in life. It was his favorite song...
Oil prices soaring, the need for black gold intensifies and the blame placed on growing economies and the quickly expanding population of the new rich. Should OPEC allow an increase in production to ease the sky rocketing prices?
When some progress takes place in a part of the world contributing to this sudden increase, this in turn gives a blow to the rest of the world resulting in sudden increase in production, operating costs... Resulting in increasing prices of other material goods to the general public, reducing sale and hence, retards growth or maybe even resulting in a negative growth.
However, to be blamed are also oil companies themselves. Since switching to lean production methods, eliminating buffer stock to its absolute minimum, a sharp spike in demand would send shockwaves through the industry resulting in a haphazard method of resolving the situation. Doesn't help as well that Yukos, is hit by a tax bill of 3.4 billion dollars and may have to cut production in order to pay the bill. Civil unrest in Nigeria and strikes in Venezuela... no help there. A revision to Shell's oil reserves also threatening
However, all of that said... I'm sorry to say that America has a big portion of the blame for not releasing enough oil reserves as well as the lack of efficient automotive technology (think gigantic SUVs with 6 liter engines, consuming fuel like there is no tomorrow). A civilization that consists of 293 million as compared the world population of 6.3 billion people consuming 45% of the crude oil resources. Causing 33% of the quantity of carbon dioxide released into the atmosphere, while relieving most of the world from its natural resources like a giant ogre with a perpetual voracious appetite.
I was just thinking as well about the lottery a minute ago... The chances of winning the money is so small, its negligible in most cases... However someone has to win it somehow. Could it be me? Hahaha... not unless I actually buy a ticket. Oh well, cest la vie...
Comments