Err What's comming?

$65 oil is coming (maybe)

A top analyst expects crude prices to start plummeting. If you don't believe it, you're not the only one, and a few stocks look good if you're in the skeptics' camp.

This guy you have got to read!

"The match has struck, the fuse has been lit, and four or five years from now OPEC producers are going to be drinking their own oil and choking on it," says Tony Kolton, the founder and president of Logical Information Machines, a provider of research to most of the world's major energy-trading companies for two decades”.

Speculators unmasked

Kolton, a specialist in the history, composition and psychology of the energy market, believes that speculators were without question behind the run-up of prices to $147 per barrel in July and that government threats to expose and punish their behavior spooked them out of their positions in a hurry.


Now this is a guy after my on heart, alright Tony Kolton! I have said this since 1973. My statement has been they like drinking tea and can substitute oil for it!
But I don’t believe the prices are going to change to help conditions for this fall and winter.
If we have storms that could effect (perceived effect) supply or Russia keeps up with their antics and screw with that oil flow though Georgia, or any number of reasons that the speculators can come up with.


http://articles.moneycentral.msn.com/Investing/SuperModels/CouldOilPlungeTo65ABarrel.aspx

I want my reads to look over this one. Thank goodness more have been picking up the banner and the facts keep coming out. This one is called the American Solutions, give it a gander.

http://www.americansolutions.com/actioncenter/petitions/?Guid=54ec6e43-75a8-445b-aa7b-346a1e096659

And finally Nancy seems to be back peddling on some issues. Seems she changes with the weather. Her comments;

Pelosi won't limit vote to offshore drilling
Carla Marinucci, Chronicle Political Writer

(08-14) 19:07 PDT -- House Speaker Nancy Pelosi on Thursday firmly rejected the idea of a House vote solely on the issue of offshore oil drilling, calling it "a hoax on the American people" backed by oil companies.

Instead, she said, she wants Congress to tackle a compromise comprehensive energy plan that would include alternative energy sources and curtailing tax breaks for oil companies.

"You want to drill? We want the royalties for the American people, and we want that to pay for renewable energy resources," the San Francisco Democrat said in an interview for KQED television's weekly news show, "This Week in Northern California." "We want to connect all that together."

Pelosi said she wants to end what she called the failed energy policies supported by "two oilmen in the White House," referring to President Bush and Vice President Dick Cheney, former oil company executives.

"They want us to do more of the same," she said. "So they've come up with this gimmick, this hoax" that says if drilling is allowed in the Arctic National Wildlife Refuge and offshore, "it's going to bring down the price at the pump."

"Ten years, 2 cents," Pelosi said, arguing that 10 years would be the time needed to reap a small benefit to most Americans. "Even the president has said it isn't a quick fix. ... I can't allow a hoax to come to the floor."

But she would consider a vote on drilling "in the context of a fuller, more comprehensive energy package" that would include ending some of the oil companies' current tax breaks.

Big Oil, she said, wants to drill and "not pass their royalties to the taxpayer. They want us to subsidize the drilling."
That's why alternative energy - solar, wind, oil released from the strategic energy supply and natural gas, which is clean and abundant - should be mandated as part of the plan, she said.


And now check out the latest verbiage from the house of Pelosi;
Pelosi receptive to considering more drilling


Email this StoryAug 16, 7:30 PM (ET)By DINA CAPPIELLO

WASHINGTON (AP) - Democrats' stance against offshore drilling has shifted more, with House Speaker Nancy Pelosi signaling on Saturday her willingness to consider opening up more coastal areas to oil and gas exploration.

In her party's weekly radio address, Pelosi said opening portions of the Outer Continental Shelf for drilling would be a part of energy legislation that House Democrats intend to put forward in the coming weeks to address oil dependence and high gasoline prices.

Lawmakers will be able to "consider opening portions of the Outer Continental Shelf for drilling, with appropriate safeguards, and without taxpayer subsidies to Big Oil," said Pelosi, D-Calif.
Just weeks ago Pelosi seemed resolved to block any votes to allow offshore drilling, in part because Californians have opposed drilling off their coasts since an oil spill off Santa Barbara in 1969. New oil drilling is only allowed now in federal waters in the western Gulf of Mexico and off Alaska.

Pelosi's radio remarks were the latest to hint that the energy debate in Congress is still evolving, and that Democrats are budging on the issue.

Congress left for the August recess deadlocked over how to address $4-a-gallon gasoline. Democratic proposals to tap the nation's petroleum reserve, curb oil speculation and force oil companies to drill on already leased federal lands were blocked by Republicans trying to force votes on offshore drilling.

Yet any vote on drilling is likely to force the Republicans' hand, since it will likely be packaged with unpopular proposals to tap the petroleum reserve and recoup unpaid royalties from the late 1990s to pay for renewable energy projects.

"This comprehensive Democratic approach will ensure energy independence which is essential to our national security, will create millions of good paying jobs here at home in a new green economy, and will take major steps forward in addressing the global climate crisis," said Pelosi, who criticized Republicans'"drill only" plan.

Republican leaders called Pelosi's proposal a ruse.

She "is deliberately misrepresenting the facts about our plan in order to shift attention away from the Democrats' shameful record," said House Republican leader John Boehner of Ohio. "Her new effort appears to be just another flawed plan that will do little to lower gas prices." Boehner and more than 100 House Republicans refused to depart for the summer recess in protest of Democrats' refusal to have a vote on their proposals.

The pressure to expand offshore drilling intensified last month when President Bush lifted an executive prohibition on drilling for oil and gas on the Outer Continental Shelf. A congressional ban remains in place.

Polls have shown that voters have grown more supportive of more domestic oil production as fuel prices have climbed.

Can you stand any more? What is that old soap show? “ So as the world turns” according to Nancy Pelosi.

Until the next time

JW'r