Kiss my Ass Durbin

Oil Stuff

and a new American Hero

“ ''... prices should not skyrocket like this in a functioning, free market.'' Sen. Leaky Leahy "You have to sense what you're doing to us - we're on the precipice here, about to fall into recession," said Sen. Richard Durbin, D-Ill. "Does it trouble any one of you - the costs you're imposing on families, on small businesses, on truckers?" - San. Dick "The Turban" Durbin ” Opening comments during the House of Lord's hearing on oil prices.  That gave John Hofmeister, president of Shell Oil, his chance to do what we hope  to hear from everyone this gaggle of flibbertigibbets hauls in for one of their show trials.  Listen, and toast him. “ ” The assembled executives also frowned on a recently passed House bill giving the Justice Department the power to sue OPEC, saying it would have little effect in boosting production. I sent the above  poll to Greeper, whose business it is to know this stuff, and he pretty much had the same response. “  Interesting. The questionnaire itself reflects the typical misunderstandings.....it talks about crude prices but then mentions lack of refineries. Refining capacity affects gas prices, not crude prices. Arguably increased capacity would INCREASE crude prices but it would accelerate demand. I would rate: 1. Speculation 2. China, India, etc 3. Value of the Dollar 4. (Very minor) environmental constraints. Not an issue where development occurs really, ex-north slope really and maybe a little in Europe, but I've never heard of it preventing development. The rest don't matter, IMO. Greep       ” As in real life, when Greep and I disagree, I'm right.