Posted by
Locutisprime on Monday, July 06, 2009 8:28:19 AM
World stocks fall as oil drops to $64 a barrel
All of us have seen the rising cost of gasoline at the pump since the
first of the year. Locally, I have seen prices rise from $1.49 a gallon
to over $2.65 a gallon and now the price has fallen back to around
$2.45 this week.
But the question remains, when will the cost of energy reach any level
of reasonable equilibrium. And how can it, when we continue to allow
those on Wall street to manipulate the prices. Today's headlines seem
to reflect a retreat once again in oil prices and as a result, the
world stock markets are reacting by sliding? Why is that? It seems to
me that the news of lower cost energy should if anything inspire more
investment. but the reverse is seemingly true. that tells me precisely
who is behind and responsible for these market fluctuations and erratic
prices for oil and other energy sources.
Which immediately brings questions in my mind? Questions of where
exactly is this recovery that I have been hearing about for the past
two months. There have been some increase in the global stock markets
that is for sure, but the bottom line of jobs and job losses have
continued to slide and the turn around that Obama's stimulus spending
promised simply hasn't materialized.
And I for one don't believe that it will materialize. How can it?
Particularly in the face of Obama's desire to have cap and trade rammed
down our throats in the midst of a recession. Cap and trade is in
actuality cap and "tax" and anyone other than a complete fool can see
that. How can further penalizing people with embedded punitive taxing,
be a positive thing or an element to economic recovery? It can't be.
Of course all the so called economist who told us all along that
everything was alright with the economy, are the same ones telling us
now that everything in alright with the economy once again and recovery
is underway. I for one don't believe that. I tend to listen to those
who are not in the main stream and those who are not affiliated with
and obligated to partisan think tanks and thus have to match the
reality of their supposed science to the political rhetoric, by
supporting it in the public arena with faux science.
The American economy remains floundering and just barely laying off
from smashing against the rocks, and our energy policies and the cost
of oil remain major driving forces in this economy and always have
been. IMO, we can no longer endure the unencumbered speculation in the
energy markets that stand to completely wreck what is left of our
economy. And we certainly cannot withstand the socialist inspired and
liberal democrat led attack on our energy resources in the name of
hyped and purposely skewed science, for the sake of supposedly doing
out part to combat global warming that isn't occurring.