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Old 02-26-2008, 11:51 PM
TMAllison TMAllison is offline
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Join Date: Feb 2004
Location: Walnut Creek, CA & 1,150 miles S of Key West
Posts: 4,874
I was the same age in the early 70's. We both should have been beating the drum for them to get whatever breaks/credits they could get then so that they could have increased proven reserves and lessened our dependence on others now. Was a period of Stagflation; not unlike what we are moving toward currently although oil didnt increase in cost then for 20 years. We got a 20 year discount then China and India woke up and took that discount away. Not Big Oils doing, or really OPEC's as they are already pumping close to all they can. What would help most (other than a slowdown in China and India) is if Iraq could pump at capacity, and if Iran's and Venezuela's leadership didnt hate us so much and continualy threaten to reduce supply.
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Terry Allison
N. Calif. & Boca Chica, Panama

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