Tax cuts are not going to save you from oil you clowns
Hey folks, delude yourself as much as you like with the promise of National Party tax cuts - but the reality is that the planets oil sources are going through unprecedented shocks and our denial to accept that is equal only to our denial that the planet is warming. The prediction is $200 per barrel before the end of the year, a $50 tax cut ain't gonna do jack - the longer we wait to do something, the harder it will be.
Skyrocketing Oil Prices Stump Experts
Executives from the giant oil companies say it's partly the fault of "speculators" or financial players. Key financial players say it's really a question of limited supply and expanding global demand. Some members of Congress accuse the Organization of the Petroleum Exporting Countries for bottling up some of its production capacity. And OPEC blames speculators, wasteful U.S. consumers and feckless U.S. policy. Almost everyone points at China's growing appetite for fuel. Whatever the causes, one of the most dizzying runs in the history of oil prices picked up pace yesterday -- again -- as crude oil prices jumped to settle at more than $133 a barrel, up $4.19 in one day, 18 percent so far this month and more than one-third so far this year. Prices climbed even higher in late electronic trading.