40 comments on New SEC Oil Accounting Rules
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40 comments on New SEC Oil Accounting Rules
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We really need to get on about the business of becoming energy independent. This past year and the record gas prices played a huge part in our economic meltdown and seriously damaged our economy and society.We keep planning to spend BILLIONS on bailouts and stimulus plans.Bail us out of our dependence on foreign oil. Make electric plug in car technology more affordable. It cost the equivalent of 60 cents a gallon to drive an electric plug in car. The electric could be generated from wind or solar. Get with it! Utilize free sources such as wind and solar. Stop throwing away money on things that don't work. Invest in America and it's energy independence. Create cheap clean energy, create millions of badly needed green collar jobs. Put America back to work. It is a win-win situation. We have to become more proactive citizens, educate ourselves and demand our elected officials move this country forward into the era of energy independence. Jeff Wilson's new book The Manhattan Project of 2009 Energy Independence NOW outlines a plan for America to wean itself off oil. We need a plan and we need it now! www.themanhattanprojectof2009.com
comment deleted. I don't want to hijack Gail's thread on SEC Rule changes
I agree completely that we need a Manhattan Project to address the energy independence issue....the problem is we have Peak Oil colliding headlong with Peak Credit....like two freight trains about to collide. The credit situation is summarized on Jesse's post December 29, 2008 "Dancing on a Precipice: The Tenuous Balance in Global Finance" at
http://jessescrossroadscafe.blogspot.com/2008/12/dancing-on-precipice-ba.... We may be just weeks away from this situation precipitating the next Black Swan event http://www.fooledbyrandomness.com/ ...with the crash of the global economy, why would any government buy US Treasuries?
We need a cheap, abundant, proven source of domestic crude oil to power us out of this mess and help us bridge the transition to renewable energy. And we need it fast. That resource exists in Alberta and the technology to produce it in an environmentally responsible manor has been piloted and in operation for over two years. Please see http://eroi.theoildrum.com/node/4784#comment-453755. I will post the EROI analysis as soon as we complete the review of the technical data submitted in their Dec 2008 project application to the Alberta EUB. At $15,000/barrel CAPEX, $10/barrel OPEX and 14 months project approval to startup, I see no other economically feasible alternative that can deliver the quantity of cheap domestic oil we are going to require with the $US devaluation.