Power Line has an interesting piece on the price of oil. Highlighted by the fact that Exxon is one of the SMALLEST oil companies on the planet and thus incapable of doing anything about price. Governments control 94% of the world's oil supply and reserves. Click on the above to see the chart. Not drilling is simply the worst thing we've done to ourselves in decades. But, Bush is simply incapable of articulating anything so he cannot rally public opinion. When voting next time consider the necessary qualification of speaking and communicating well because without those two faculties the president is castrated. Exxon is twelfth from the bottom in the above chart.
5/24/2008
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2 comments:
and guess how efficienrt they are . . I'll bet the key to a VP office in Gazprom is not great administrative skills, superb geological understanding, being able to engineer a pipline better than the next person, or any of that sort of stuff. And oil production is a far third to everyone's concerns in that hive.
Efficiency has nothing to do with anything in a dictatorship. The guys at the top do whatever they want. The oil keeps flowing at eight to ten times lifting costs and inefficiencies don't matter....for a while.
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