The making of the next
energy and economic crisis:
• Permanent high unemployment.
• New taxes on health insurance.
• Mandated health insurance & fines.
• "carbon" taxes on fossil fuels.
• Pelosi "value added" tax.
• Staggering deficits & inflation
• No new off-shore oil or gas wells.
• No new nuclear power plants.
• Windmills incompatible with power grid.
• Ultra expensive solar power.
• Rising OPEC oil prices.
Events & decisions leading to the crisis:
Waxman-Markey Bill: Sen. Maria Cantwell confirmed that the bill would send $1.4 trillion overseas in so-called "international offsets."
"the energy tax under the so-called cap-and-trade legislation in Congress would bring about global governance." -- Al Gore -- July 13, 2009. (global governance = global taxes)
Obama’s new global warming emission rules likely to put U.S. Automakers in deep Freeze. The new controls to limit so-called global warming gasses will cost GM, Ford and Chrysler additional billions of dollars - June 17, 2009
Freeman Dyson: climate change has become an "obsession" — the primary article of faith for "a worldwide secular religion" known as environmentalism. Among those he considers true believers, Dyson has been particularly dismissive of Al Gore, whom Dyson calls climate change’s "chief propagandist," and James Hansen, the head of the NASA Goddard Institute for Space Studies."The New York Times - March 29, 2009
Nineteen companies have submitted applications to build solar or wind facilities on a parcel of 500,000 desert acres, but Sen. Dianne Feinstein said Friday such development would violate the spirit of what conservationists had intended - ECNmag.com - March 25, 2009
President Obama Announces $2.4 Billion in Funding to Support Next Generation Electric Vehicles DOE Support for Advanced Battery Manufacturing and Electric Vehicle Deployment to Create Tens of Thousands of U.S. Jobs - U.S. Department of Energy - March 19, 2009.
A proposal by the Obama Administration’s Office of Management and Budget (OMB) would eliminate the Highway Trust Fund "firewall" and allow the diversion of dedicated highway user fees from critical repair and expansion projects. American trucking Associations, March 6, 2009
Conn. officials say LI Sound pipeline plan is dead. "Two energy companies have ended their nearly eight-year effort to build a natural gas pipeline in Long Island Sound between Connecticut and New York. . . .the pipeline would have been a "cost-effective and energy-efficient" way to deliver much-needed natural gas to the Connecticut, Long Island and New York City markets. Federal and New York regulators approved the plan." Associated Press February 26, 2009
"I ask this Congress to send me legislation that places a market-based cap on carbon pollution and drives the production of more renewable energy in America." Obama's address to Congress February 24, 2009
Interior Secretary Ken Salazar is putting the brakes on a Bush administration plan to open the Atlantic and Pacific coasts —- including Georgia’s —- to oil and natural gas drilling, - The Atlanta Journal-Constitution - February 11, 2009
Mainland China has eleven nuclear power reactors in commercial operation, seven under construction, and ten more about to start construction. - World Nuclear Association - February 2009
"Energy is the engine of, and inextricably linked to, the American economy. Environmental policies and regulations that punish energy markets will only deliver a further economic hit." Wall Street Journal, December 5, 2008
"Using recent NASA satellite data, researchers have estimated more precisely than ever the heat-trapping effect of water in the air, validating the role of the gas as a critical component of climate change. . " . Eric Fetzer, AIRS data at NASA's Jet Propulsion Laboratory, Nov. 17, 2008
"So if somebody wants to build a coal-powered plant, they can; it's just that it will bankrupt them..." - President elect Obama - November 2, 2008
"If you're a young person looking at the future of this planet and looking at what is being done right now, and not done, I believe we have reached the stage where it is time for civil disobedience to prevent the construction of new coal plants that do not have carbon capture and sequestration," Al Gore, September 24, 2008
"I'm trying to save the planet. ... I will not have this debate trivialized by their excuse for their failed policy," Nancy Pelosi, July 29, 2008
The Arctic may hold far more oil than previously thought; as much as 90 billion undiscovered barrels according to a new study released today. US Geological Survey, July 24, 2008
"We are not going to drill our way out of the energy problems we are facing-not here and not in the Arctic National Wildlife Refuge," Jim Hoffa: July 24, 2008
India is "pursuing new (oil) opportunities vigorously in Columbia, Cuba, Ecuador, Trinidad-Tobago as well as Brazil and Argentina", the minister said. New Delhi Tribune - January 19, 2008,
"Working with a coalition of labor unions, native Alaskan groups and energy independence advocates, we have succeeded in winning multiple votes in the House of Representatives in favor of opening ANWR. . ."
"For the Teamsters the primary motive for our support of this effort has been constant and singular – job creation. . . "
Teamsters General President James P. Hoffa - March 16, 2005
"America is facing two serious threats to our national security: the widening industrial and technology gap between the United States and our competitors and the vulnerability of our increasing dependence on foreign oil. " AFL-CIO A Challenge to the Nation: August 11, 2004
Labor leaders will try to "turn people around" -- specifically, key Senate Democrats -- to push forward President George W. Bush's controversial plan to drill for oil in the Arctic National Wildlife Refuge, Teamsters President James P. Hoffa - August 11, 2001
The Senate by a wide margin on Thursday rejected oil development in an Arctic wildlife refuge. Joseph Hebert, Associated Press, Apr 18, 2002
The production, transportation and distribution of electrical energy is critical to the success of the United States economy, preservation of our national security and provides work for substantial numbers of members of AFL-CIO affiliated unions.
The AFL-CIO supports a policy of fuel diversity in the electric utility industry. We must maintain all current generating options, including fossil fuels, nuclear, hydro and renewables to ensure a stable, reliable and low-cost supply of electricity for the United States.
Misguided efforts to restructure the industry must not sacrifice the reliability of our electricity supply.
The AFL-CIO reaffirms its opposition to the Kyoto Protocol." AFL-CIO - U.S. Energy Policy February 17, 1999
For sources and background information see:
ready. Be prepared to move on.
You may be working for a great company but what will happen when energy prices skyrocket or the government starts regulating your industry? Will your company survive?
Invest in yourself. Learn a new
or a new
Security and Self-Defense
During the 1973 oil crisis gasoline was a precious commodity. Locking gas caps became a must and it was not uncommon to see police guarding gas stations or armed gas station owners
While we may not end up with serious shortages we do expect oil and gasoline to become a very expensive commodity.
Expensive commodities invite theft and crime. Be prepared.
Alternate energy sources are troublesome and expensive. While they are not economical to install today it will be to late when blackouts become commonplace.
When considering alternate energy, think small and think basic. Large emergency generators will be useless when you can’t get fuel.
Consider solar, wind and batteries to power camper sized appliances.
Still own a gas guzzler? Sell it or trade it before the price of gasoline goes up and the carbon tax is imposed.
New cars are deeply discounted. Used cars are a bargain. Driving about 10,000 miles per year? Aim for over 25 miles per gallon. Driving more than that? Aim for better fuel economy.
Remember, big SUV’s will turn into pumpkins when the price of gas goes over $5.00 a gallon.
A good place to start:
Cars & Trucks
Follow the money but be careful!
Wind and solar energy seem like a great investment, but, companies still have to make a profit and that may be years away.
New taxes may temporarily curb oil and gas use.
Watch the growth countries "BRIC": Brazil, Russia, India and China. These countries are investing in real energy and will end up with most of the industrial production we will loose.
Do your own research. Subscribe to publications such as Value line.
Peter Lynch called it "the next best thing to having your own private securities Analyst." It has outperformed the DOW by 18 to 1 over a 41-year span that covers both bull and bear markets."
Warren Buffet calls Value Line, "An incredible value! I don't know of another system that's as good. -- we've delivered 23,211% gains for investors in our portfolio of #1-ranked stocks.
Do your own trading. The market will be volatile. Invest less in new companies and be ready to invest more often.
Open an internet account in a company such as TradeKing
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