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Fox and Friends, You Decide if They Report? (about oil)

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September 04, 2008 – Comments (3)

I logged on to my favorite investing website (CAPS) today and saw this post by wcaseym taking the news media to task. I also had read and responded and tried to correct what I believe were some mistakes in this post by kpscott. I skipped over to my favorite collection of undereported news stories and stumbled onto this story which might explain why kpscott believes what he does. Out of 267 stories about off-shore drilling, only one cited the data from the Energy Information Agency that off shore oil will not only, not lower prices today, but only have a negligable affect on future oil prices.

Ramen.

3 Comments – Post Your Own

#1) On September 04, 2008 at 4:15 PM, LordZ wrote:

HMMM just about everyone in the world is drilling like crazy, the Iranians are switching to natural gas vehicles as Pickens will tell you its because they would rather sell all the oil they can.

And yet bloody doo gooders and non economists who have no crystal balls among other balls, make blank silly statements that off shore oil will not lower prices or affect future prices.

If I may indulge its sort of like arguing against going to school and getting an education, instead just put your kids into sweat shops, sell them out to pick fruit, to shine shoes, and to perform any other labor that you can get outta them.

I mean why waste 12 years of schooling, right, how short sighted, and even if prices were to not significantly change, you would have all that extra tax revenue and industry and business.

But heaven forbid we do something smart or take advantage of our resources.  The biggest reason i can gather is that somehow tree huggers feel that an extra dollar spent on an education or in this case off shore drilling will somehow be an dollar taken away from alternative resources.

I say drill drill drill, take advantage of your resources, don't listen to idiots or criminals or terrrorists.

Don't wait its never too late to do the right thing.

Supply and demand not some disinformation agency should make this an easy decision especially given that soon the indian and chinese market might look like our american markets with 2 cars in every garage, heck in some its 3 or more.

Nice spin nonetheless.

data and circumstances change by the minute and one silly report should not halt more drilling.

 

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#2) On September 04, 2008 at 5:50 PM, FoolishChemist (96.75) wrote:

Yes keep drilling and put more CO2 into the air, destroy the climate.  By the time we get the oil we could have developed a bunch of renewable energy.  But that might actually cause people to conserve (a scary word).  Those who want more drilling are like a bunch of drug addicts, just get a quick fix but no long term solution.

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#3) On September 04, 2008 at 5:56 PM, TheGarcipian (59.03) wrote:

By all means: drill, drill, drill! Live for the day! Do not plan for the future because you may not live to next week/month/year! Why care for the children and/or grandchildren you leave behind when you're dead and buried? Screw 'em. Let them fend for themselves. We did our parts, right? Seedin' 'em, birthing 'em and learnin' 'em how to lace up their Crocs, right? Edumacation bees to hi-ly over-rated. Dose friends on Fixed News don needs demselves an edumacation, and dey done all rite for demselves...

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