[Graeme]

Bodman: An End to Ethanol Tariffs?

$this->bbcode_second_pass_quote('', 'E')nergy Secretary Samuel Bodman raised eyebrows with tantalizing comments about U.S. ethanol policy and a troubled carbon-capture project.

At a luncheon with biofuel industry executives hosted by the U.S. Chamber of Commerce, Mr. Bodman was asked about the prospects for extending tariffs on imported ethanol.

“I think this industry is pretty close to being able to stand on its own,” he said. President Bush’s budget proposal, due next week, “will start to deal with that question,” Mr. Bodman said, without further elaboration.

[dorlomin]

When you have a $150 billion dollar stimulus package to borrow for, as those extra trimmings can look a little extravagant. Ethanol could be an extra trimming rather than an energy solution.

[mekrob]

Good. Then maybe we won't be able to produce as much and thus food prices could take a nice dip or at least won't have such price hikes as we've been seeing.

[Plantagenet]

$this->bbcode_second_pass_quote('Drifter', '')$this->bbcode_second_pass_quote('', 'T')he U.S. energy secretary says insufficient oil production, not speculation, is driving soaring crude prices.

Secretary Samuel Bodman's comments Saturday on the eve of an energy summit in the Saudi port city of Jiddah set the stage for a showdown between the U.S. and conference host Saudi Arabia.

Saudi Arabia has largely blamed speculation in the oil markets for the record prices.

Bodman says oil production has not kept pace with growing demand for oil, especially from developing countries like China and India.

[joe1347]

$this->bbcode_second_pass_quote('Plantagenet', '')$this->bbcode_second_pass_quote('Drifter', '')$this->bbcode_second_pass_quote('', 'T')he U.S. energy secretary says insufficient oil production, not speculation, is driving soaring crude prices.

Secretary Samuel Bodman's comments Saturday on the eve of an energy summit in the Saudi port city of Jiddah set the stage for a showdown between the U.S. and conference host Saudi Arabia.

Saudi Arabia has largely blamed speculation in the oil markets for the record prices.

Bodman says oil production has not kept pace with growing demand for oil, especially from developing countries like China and India.

[AirlinePilot]

I dont think so joel.

You have to pay attention to the folks who take delivery of actual oil and then sell it to or use it in refineries. Its most of the oil traded on the markets. There are speculators, but in several links here recently its been proven that long and short speculators have a tendency to cancel each other out.

The bottom line is the markets are becoming introduced to the peak oil scenario and supply/demand will rule the roost. I do believe as time goes on more and more folks will be forced into realizing just what peak oil really means.

[DantesPeak]

There is far far too much attention given to the role of speculators. Are speculators causing oil imports to fall from Nigeria, Mexico, Venezuela, and other places from which the US gets imports? Or is it maybe, just maybe, net imports are falling rapidly because oil exporters can't maintain their production levels? The US has to out bid other countries to replace the oil its losing, causing prices to rise.

It seems that most people just can't accept that the price to replace that lost oil is much higher than it was. What is the fair price for oil? Well who knows? But it must be higher than it is ever was before because the situation is worse than it ever was before.

[killJOY]

Jeezum Pete.

I saw this article on Huffington Post, and when I began reading comments I realized why I am such a doomer.

$this->bbcode_second_pass_quote('', 'H')oly Christ, these people are shameless. Anyone notice that in the last quarter, world oil output grew by 2.5%, while demand only increased by 2%? Supply increased over demand, but the price rose 35%.

Yep, production's the problem.

[shortonoil]

DantesPeak said:

$this->bbcode_second_pass_quote('', 'I')t seems that most people just can't accept that the price to replace that lost oil is much higher than it was.

[charliehelyes]

the bruce forsyth paradox shows that as as fields get older they get better thus allowing more oil to be produced

[newman1979]

$this->bbcode_second_pass_quote('DantesPeak', 'T')here is far far too much attention given to the role of speculators. Are speculators causing oil imports to fall from Nigeria, Mexico, Venezuela, and other places from which the US gets imports? Or is it maybe, just maybe, net imports are falling rapidly because oil exporters can't maintain their production levels? The US has to out bid other countries to replace the oil its losing, causing prices to rise.

[TheDude]

$this->bbcode_second_pass_quote('killJOY', 'J')eezum Pete.

I saw this article on Huffington Post, and when I began reading comments I realized why I am such a doomer.

$this->bbcode_second_pass_quote('', 'H')oly Christ, these people are shameless. Anyone notice that in the last quarter, world oil output grew by 2.5%, while demand only increased by 2%? Supply increased over demand, but the price rose 35%.

Yep, production's the problem.