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Weekly Interest

332 Landslide

332 Landslide

April 8, 2008

Conclusion on Searching for Oil, Corporations and Subsidies

I think it is a conclusion that we are not ever going to find enough oil outside of the middle east to avoid buying from the region. It is also a conclusion that Americans, even the world, are ready for and demanding alternative energy. It makes sense to me in light of these conclusions that all monies currently being spent on locating and retrieving new sources of oil by companies with - A) shareholders {in that shareholders are Americans or stakeholders in America, either as corporation or individual, and if a thing is of benefit or detriment to Americans it is of benefit or detriment to shareholders} B) Special US tax status OR receives US subsidies - should immediately be shifted away from these endeavors and either moved to alternative energy systems and production or to other non-oil related endeavors. In the case of subsidies, special tax status' and such these will be reworded to exclude oil, and cease to be assigned or assessed to any company continuing work in new oil fields location or recovery methods on any level.

As we get closer to filling our oil needs outside the middle east, the higher oil prices from these countries become as they will try to get in their perceived 'final profits'. As Venezuela is teaching us, no other country is going to allow us to plunder and pillage their lands and resources without a price, and there is no reason to believe they would settle for any less a price than their competitors are charging. I liken the strategy of the US oil companies to that of the electronic gadget market. They hold many new technologies back, releasing small improvements in 'versions' once or twice a year to maximize the sales on any given new item.

I will be very happy for the day (soon to come) when ALL subsidies to the big oil companies are dismissed. I pray for the day major corporations such as these with huge effects on our economy as a whole are by law restructured and regulated to operate in the public good. Further I believe that if utilities, energy suppliers and producers are allowed to become publicly traded they need special rules, instructions and designations to operate under the presumption that these are not 'profit' driven corporations, they are public driven and since shareholders are Americans or stakeholders in America, either as corporation or individual, and if a thing is of benefit or detriment to Americans it is of benefit or detriment to shareholders. Utility share investments should be considered stable ones moving up and down with the US economy, not one to be speculated on or manipulated.

Here is a fine example of the craziness of which I speak

" The companies aim to spend $600 million to hold an open season, or solicitation for customers to make long-term commitments to use the pipeline, before the end of 2010. After that, the companies would seek certification from the Federal Energy Regulatory Commission and Canada's National Energy Board and then begin construction on the project, estimated to cost $20 billion to $40 billion."

Yes, you read that right. They are planning on spending $600 million dollars BEFORE even seeking certification from the Regulatory Commission or the National Energy Board. This is exactly the sort of clumsy speculation that must be addressed.

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