| January 30, 2010
This past week, President Bush said that there is no quick fix or easy solution when it comes to fixing the soaring gas prices. He said he is trying many different things to try to change the amount gas costs, perhaps even spending more money on ethanol. This is what the President had to say:
"It's been a while in the making and it's going to be a while that we solve the problem..."troubles me a lot"... "like a tax on the working people."
All of the nominees for president have their own ideas for gas prices. Clinton and McCain want a summertime suspension of federal gas prices. Barack Obama wants a windfall-profits on oil companies. Bush says he's not going to make any rash decisions.
"We'll analyze some of these suggestions, but the key is that we think long-term for America, that we diversify away from oil and we're wise and build new refineries and increase supply for the American consumers."
Is ethanol the right road to go down? Ethanol may not be the best choice right now during a food crisis but alternate forms of fuel need to be established. Plus, George Bush is essentially the very first president to try to find and fund alternate forms of fuel so the first time through doing so may be a little rough. Either way, Bush will propose making his tax cuts permanent throughout the last few months of his presidency and try to get ethanol on its way.
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|119.30.35.xxx |2010-02-01 11:44:27 AmerikaBERLIN (Reuters) – The United States is already in a recession and it will be longer as well as deeper than many people expect, U.S. investor Warren Buffett said in an interview published in German magazine Der Spiegel on Saturday.
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He said the United States was “already in recession” and added: “Perhaps not in the sense that economists would define it” with two consecutive quarters of negative growth.
“But the people are already feeling the effects,” said Buffett, the world’s richest man. “It will be deeper and last longer than many think.”
But he said that won’t stop him from investing in selected companies and said he remained interested in well-managed German family-owned companies.
“If the world were falling apart I’d still invest in companies,” he said.
Buffett also renewed his criticism of derivatives trading.
“It’s not right that hundreds of thousands of jobs are being eliminated, that entire industrial sectors in the real economy are being wiped out by financial bets even though the sectors are actually in good health.”
Buffett complained about the lack of effective controls.
“That’s the problem,” he said. “You can’t steer it, you can’t regulate it anymore. You can’t get the genie back in the bottle
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Few things of note.
1.During the Clinton/Gore Administration nothing was done to find alternative forms of energy.
2. I am against McCain’s proposal of a tax holiday. I am against Hillary’s plan even more. I’d love to see Obama even challenge the oil companies.
3. Ethanol is not the answer. It is not what we need to get us off our dependence on foreign oil. 28% of corn production in the USA is going to ethanol production, and that leads to higher food prices like we are seeing.
4. I am also against McCain since he does not support drilling in ANWAR. McCain says he wants to preserve pristine land because he is an environmentalist. Well if it’s so pristine, then go make it a National Park or we should have every damn right to drill there.
5. If the Democrats weren’t so damn hardheaded, we could easily open up additional refineries in the Gulf. Hell GE and others promote new technology to better spot oil underneath the Gulf; but thanks to the donkeys, these oil companies won’t be able to drill there.
And of course the line that goes along with that is the fact it won’t be on line for X number of years. Well so what, more Domestic Oil is what we need. I don’t care if it takes 5-10 or 20 years to get into the cars of Americans, the more oil we get here in the USA, the better.
Finally, we are dealing with a Cartel in OPEC. I honestly don’t know what you could do with that. They set the supplies and such and a lot of this is out of our hands…
That’s my story and I’m sticking to it. And if you notice, I am not all that partial to McCain on this subject at all; I disagree with him on it mostly..
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You even brought it up Meyers, we need back to back negative GDPs to be in a recession, and we didn’t get it!