Archive for September 5th, 2005

Gasoline volatility

Monday, September 5th, 2005

How long will it take on the down side?


Up $0.50 or more last week following Katrina

Now that the volatile futures price for gasoline has dropped $0.84 from its peak last week given a mad global scramble to release emergency supplies, how long will the bad boys pictured above take to fall? It’s always slower on the down side. Is profiteering involved?

The tenuous situation in world oil enables a great deal of profit taking on events. There are some years left where prices will fluctuate, with temporary price crashes even possible. Afterward, however, as world oil production clearly enters a permanent monotonic decline, the sky will be the limit on gasoline.

I just can’t predict exactly when that time will come. However, seeing the current situation, I am reminded of the exchanges I had with the fine Middle East affairs blogger Juan Cole, who wrote in January 2004 that “Petroleum costs around $25-$30 per barrel, and is likely to go on doing so for decades.”

Though I greatly respect Juan Cole, I doubted this at the time. Is it not clear, after the crude price has reached and maintained a level double Cole’s thinking, that the world is not as awash in extra oil as many academics and financial analysts just a short time ago thought it was?

Call for Bush to resign

Monday, September 5th, 2005

Honor requires nothing less

The game is over. President George W. Bush with his band of thieves and hacks should resign immediately so that the lost honor and confidence of this once-great nation can be restored. For the sake of our country, Bush just needs to realize that his utter failure of leadership — his nakedness, revealed for all to see by the devastation of Hurricane Katrina and his lack of timely response — demands nothing less than the immediate end to his administration.

Cheney should resign first, followed by appointment of a non-neocon Republican to the Vice Presidency. I don’t care who this would be — Hagel, McCain, or even Olympia Snowe would do — just so it isn’t one of the moraless Bush-oriented radical, warmaking, statist neocons in the mold of Cheney, Rumsfeld, and current supporting cast. Then that person would become president upon the resignation of Bush.

The building case against Bush due this hurricane — all of the bad policy that preceded it, and the criminally slow reaction too it for days afterward — should put the cap on an administration that has willfully steered this country and the world towards disaster and ruination. Blow after blow have come and continue to come. Next it will be an energy crisis. Then more war. Then another natural disaster for which we are left utterly unprepared by profligate wars and irresponsible tax giveaways to the president’s rich friends.

The examples of cover-their-asses lying, spinning these lies, and covering up with phony photo ops have been rampant. I’ll reference just one sample of the testimony here, the appearence of Jefferson Parish, LA president Aaron Broussard, interviewed by Tim Russert on Sunday’s Meet the Press. If you have not heard this, go straight there and watch the video. It broke my heart in a thousand pieces. How could the Bush operation be so cruel?

Bush is utterly unprepared and uninformed about the issues that led to this tragedy. PBS Now had a pretty good explanation of the whole situation in South Louisiana in a report they originally broadcast three years ago. Go take a look at that and tell me that a president who now can say, “I don’t think anybody anticipated the breach of the levees” deserves to call himself commander-in-chief.

This administration is utterly lost in the face of a disaster where the enemy is bad policy. When nature applies its inevitable corrective, Bush is lost with nobody to bomb. Bombing normally is Bush’s only solution. But all he’s left with here is a desperate collection of black people who he has shown every willingness to shoot. Meanwhile, Hannity and O’Reilly fan racist flames with exaggerated, out-of-perspective orientation towards reporting “looting” (or, if the people are white, “searching for food and water”).

Furthermore, I can’t express the failure of Bush’s national security state any better than Steve Gilliard, who writes:

Say 9/11 changed everything now, motherfuckers. Ooops, 9/11, 9/11. 9/11. Doesn’t work anymore? Gee, maybe the sea of alligator MRE’s [Meals Ready to Eat] once known as the citizens of New Orleans has something to do with that. Now you can shut the fuck up about 9/11. Bush just proved what would happen with another 9/11. Dead Americans as far as the nose can smell.

You’ll just have to read this post for full effect. With total justification, Gilliard is on fire.

Of course I will not be holding my breath waiting for the president to resign. Likewise, I will not wait around for Mr. Bush to show me that there is one ounce of honor behind that smirky face.