US dollar value now sinking more than acceptable

[normbc9]

Presidents do sponsor legislation and give it primary attention and there are two who followed each other with NAFTA (Clinton) and CAFTA (Bush) and those are the the attractive bits of legislation that made a lot of this possible with tax credits too. The big industrial might was the money behind the move but it took some politcal muscle on the part of a sitting President to make it happen.

 

[normbc9]

The Bear Stearns situation sure took a lot of Wall Street folks off guard. The thing that causes me great concern is the US bailout of that investment banking firm. I do have a good contact inside the investment banking business and she tells me this won't be the first of the big banks in trouble either. Also she says the Chinese were moving tro buy it up when the Morgan Chase hastily prepared offer appeared and it was accepted beforwe the Chinese could move on it. I'm amused that this organization sold for less than waht the New York Yankees Third baseman is getting paid in his contract. The situation seems to be worsening too. Bush claims he has his finger on the pulse too. He is assuring everyone that they are taking more preventative steps. I hope they take the right steps headed in the correct direction this time. This last bailout is unacceptable to me.

 

[mt_pockets1000]

Interesting to read that in May of 2000 the U.S. national debt was at $5.7 trillion, an astronomical figure by any stretch. At that time the Clinton administration had paid $216 billion on the debt, a record payment. The economy was humming along and it seemed the government had turned the corner on tackling the monster.
Jump ahead to 2008 and we see the debt at $9.4 trillion and rising. George W. has proposed a $3.1 trillion dollar budget for the next fiscal year.
I'm not a financial expert but a simple knuckle dragger like myself can see the stupidity going on here. Come on America, kick those money sucking neaderthals out of office and get some sensible people in there!

 

[Albertabound]

The thing that causes me great concern is the US bailout of that investment banking firm.

Well in my eyes they never bailed out Bear Stearns, they sent them down the river. They did however bail out JP Morgan in that move using the American tax dollar.

What a wonderfull country!

 

[Lester]

There are two reasons why you pay more at the pump than in the U.S.

The first reason are taxes, your being taxed at the pump at a much higher rate than we are.

And the second reason is distribution. The U.S. has a vast netowork of pipelines spanning across the country. And I am not referring to the crude oil, natural gas and refined product trunk lines, I'm talking about the smaller sizes, which takes the refined oil virtually to almost every state, except two in the NorthEast.

Your dollar becoming par with the US dollar has little to do with anything.

EDIT: Or you can listen to DB's nonsensical rants.

Taxes are one of the problems, we are however taking steps to ensure all the oil (oilsands)from ft. mac will be upgraded to light sweet crude here in Aberta, we are building 7 new multibillion dollar upgraders Just outside the city capable of upgrading millions of bbl/day the refinerys which are also located on the cities outskirts will also get an upgrade to increase capacity. but for some strange(and stupid) reason while we have pipelines to the U.S., we don't have much going east, and eastern Canada has to rely on foriegn imports. so in the future the oil will be upgraded , refined, and distributed a lot more effieciently. this may slow prices at the pumps, but it won't stop the steady climb we have been seeing over the last few years.

The entire mideast oil supplies are in decline to the tune of 6 to 7% per year, and when we drill for conventional oil, we drill 9 dry holes for one we find with oil in it, and that one is not even a stellar producer.

The only increasing productions in the world are in oilsands or oilsand like(heavy crude/bitumin) deposits like the ones in Northern Alberta,Saskatchewan, Venuesuela, Russia and a few other places. predictions are that gas prices will surge to 1.50 a litre/ 6.00 a gallon this summer and back off to around 1.25ltr/5.00gal where they will stay until the oil companies figure out a way to increase them again.

Things are not going to get any better, Oil prices will only increase over time while conventional sources dry up. At present the world needs 85 million barrels a day to keep humming along, in 2030 the world will require 118 million barrels/day- I wonder where the're going to get that extra 34 mil/bbl when the mideasts production is declining ?

So if you think prices are high now wait for a few years and you'll be telling your grandkids " I remember when gas was just 5.00 a gallon"

Lester