Sunday - October 12, 2008

Silliest News Magazine Article of the Month

Time Magazine: “Is Cheaper Oil A Good Thing?”

Um, yes. You moron. Sure, gas is below $3 per gallon. Finally. But only just. When the price of regular falls below $1.50, and regular goes back to being 89 octane and not the 87 octane goat pee that used to be called Economy, then you can reprint your article. Until then ... STFU.

Yes, it would be utterly stupid for the Detroit car makers to go back to pushing gigantomongo trucks again, and even utterly stupider to stop pushing for more domestic oil production and more nuclear power. It’s time the US remembered the Alamo so to speak, and had our own little Never Again epiphany. American oil for American refineries, and not one drop for export.

But that was common sense speaking. Right now I’m talking about Time magazine. The two have very little to do with each other. And what is Time’s real worry? That the falling price of crude oil could hurt the economy ... in Iran and Venezuela. Because that would be bad. Excuse me, WHAT??? And bad for the environment too. Gheex. What a bunch of sniveling leftards.

How far can it fall? People have been anxiously wondering as they watch the plunging stock market. But increasingly the same question is being asked about another crucial figure: the price of oil. It has plummeted nearly 40% in just three months, from about $147 a barrel in July to below $83 on Friday, with no obvious bottom in sight. If that sounds good, you are probably a driver who winces these days at filling your gas tank. But the downward spiral could mean trouble for oil-rich countries and for the environment.
...
For oil-rich countries the slump has come at a bad time.
...
For some countries there is a fear far greater than an economic recession: political turmoil. Iran, which earns 80% of its revenues from oil exports, set this year’s budget on the assumption that oil would trade at $90 a barrel — a figure which seemed conservatively low until recently, but which is now above the world price. “If the price stays there a while Iran would cut spending,”
...
Hugo Chavez could face similar problems in Venezuela if oil prices drop below $75 a barrel — the rate at which the country calculated this year’s budget. The problems lower prices could cause in those countries could be more visceral than those posed so far by the current financial upheaval.

Gosh, we wouldn’t want pore old ‘ugo to lose any dinero would we? Or that Moldhumid Achmadinnerjacket be down to his last pair of elevator shoes? Terrible! Raise the gas price back up, quickly! Screw the USA, we’ve got to save the planet! And the whole world!!!!111!!

Leftards.

Posted by Drew458     on 10/12/2008 at 08:03 PM   
Filed Under: • Oil, Alternative Energy, and Gas Prices •  
• Comments (3) • Trackbacks (0) • Permalink •  

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