[Heineken]

If the market is smart it will pay no attention to what he says and note only the fact that he felt compelled to say it.

[IndigoMoon]

By these numbers, we can assume that the market is smart and is not paying any attention to the rah-rah's.

[frankthetank]

Bush says he's a big believer in nuclear power.

[frankthetank]

Bush says banking system is "BASICALLY" sound.

[BigTex]

I'm listening, and alternating between wanting to laugh and wanting to cry.

He said something about battery powered cars.

[SD_Scott]

$this->bbcode_second_pass_quote('frankthetank', 'B')ush says he's a big believer in nuclear power.

[IndigoMoon]

He actually did say that demand is up where supply is not. He hasn't used the word "peak" yet though.

[frankthetank]

OH GOD...

DID he mention another STIMULUS PACKAGE????!!!

[IndigoMoon]

A reporter asked about one, he basically said let's see how this one goes.

[Duende]

Hmmm...

Pretty much par for the course, as-expected nonsense. Some notables include him openly acknowledging that supply is not keeping up with demand. And then he hesitated - I just know he wanted to say what we've all been waiting to hear - "PEAK"... but he couldn't get it out. I felt the whole vibe of his presentation was rushed and panicked. If you managed to "listen between the lines", I think you picked up a pretty scary message this morning.

[Cashmere]

Today's conference was flat out frightening.

Bush had a "TEOTWAWKI" look on his face if I've ever seen one.


I kept expecting him to start yelling, "it's over. OVER. It's Peak Oil folks . . ." and then getting dragged off the stage by 7 guys in dark suits.

[Buggy]

This is what I heard.

Supply is flat.
Demand is up.
We are in a transition period away from hydrocarbons. (His exact words I believe)
Finding more oil would make the transition less painful.
Using alternatives would make the transition less painful.

Simply enough, he knows, and has known about peak oil. Just because he hasn't and won't use the the tagline "peak oil" doesn't make him an unbeliever. I won't use the tagline myself outside of this forum.

[frankthetank]

Buggy-

Neither do i. Yesterday i used my hand and made the plane crashing into the ground motion (with sound effects) when some people were talking about the current state of the economy.

[Plantagenet]

$this->bbcode_second_pass_quote('ROCKMAN', 'P')lantagenet,

Not picking on you in particular as others have made the same statement: there has not been a ban on drilling in the OCS. Since 1981 thousands of wells have been drilled in the OCS and have produced billions of bbl of oil and trillions of cf of natural gas. Today almost 20% of US oil production comes from those wells drilled during this time period. There are just certain sections that have been off limits.

[Buggy]

$this->bbcode_second_pass_quote('frankthetank', 'B')uggy-

Neither do i. Yesterday i used my hand and made the plane crashing into the ground motion (with sound effects) when some people were talking about the current state of the economy.

[ROCKMAN]

Sorry Plantagenet. I didn't realize the topic was that narrow. Given the fact that your and Monte's last 7 post didn't mention anything about "oil potential in those parts of the OCS that are currently closed to development" it was easy for my mind to wonder. But, take heart, I will not interupt again.

[dinopello]

$this->bbcode_second_pass_quote('ROCKMAN', 'F')or those who don't think it matter if we drill in the OCS then I assume you would be satisfied if we had stopped drilling in the Gulf of Mexico 30 years ago.

[ROCKMAN]

So true dino. That's the truly sad part of the failure of our political system to take advantage of that low price period to raise gas taxes, etc to push us away from our boundless consumption habits. So many laughed at Jimmy Carter's proposal to do just that even those that would agree to some level of gov't effort to curb consumption kept silent. As you seem to imply, we wasted that opportunity to better prepare ourselves for PO. So we're back to the same reactionary politics: give the people what they demand...and if the politicians can't then they'll find someone to blame. Gov't ignoring PO until it's almost too late has greatly benefited me and my oil patch buddies. But it's painfull to see others suffer the downside. I could have been content had we found the middle of the road over the last 20 years.

[Plantagenet]

Carter's realization during the 1979 Iran oil crisis, when gas prices were exploding, that the US should conserve energy and minimize foreign oil imports was obvious and uncontroversial at the time.

The hard thing about setting energy policy today is that it requires some foresight.

Here we are 30 years later, with the prospect of peak oil producing an ever worsening energy situation, and there is almost no foresight on how to deal with this.

Where do you work in the oil patch, Rockman? Are you working on the part of the OCS that is currently open to drilling?

[Plantagenet]

$this->bbcode_second_pass_quote('Hogan', '')$this->bbcode_second_pass_quote('', 'H')e also called on the Democratic-run Congress to follow his example and lift a ban on offshore drilling to help increase domestic oil production.

"I readily concede it won't produce a barrel of oil tomorrow, but it will reverse the psychology," Bush told a White House news conference — his first since late April.