OIL HITS $100:CRUDE UP, EQUITIES DOWN AMID LIBYA-FUELED ENERGY WORRIES

This is from China Confidential, one of my favorite sites. Confidential Reporter has news and information that many other sites do not cover well, or pass on entirely. I have been a bad dog and not been checking CC as often as I should have been as it is just a great site.

I agree 100% with what Confidential Reporter has to say here.

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CRUDE UP, EQUITIES DOWN AMID

LIBYA-FUELED ENERGY WORRIES

By Confidential Reporter

Not to worry, Obama and his dumbbell Democrats and environmental zealots will surely say. There is crisis in opportunity, the anti-real energy party and its adoring media mouthpieces and flunkies will tell the American people, advancing the cause of phony green energy--uneconomic, inefficient, and non-existent solutions dependent on government mandates and incentives. No need to tap America's awesome energy resources, the global warming fanatics will argue. Wind! Solar! Electric cars! Break the oil addiction! A better ... cleaner ... world is possible, the dreamers, schemers, and scammers will shout ... as food, gasoline, heating oil go through the roof, killing any chance of recovery, crippling what's left of a hollowed-out economy, pauperizing millions of middle class Americans, crushing the working poor.

Memo to the Republicans: Your fiscal responsibility/balance-the-budget message is appreciated, but overblown--by no means the be-all and end-all that you think. Not when an economy hangs by a thread that could be cut by characters like Ahmadinejad and Khadafy. More time spent developing and promoting a truly serious, job-creating plan for energy independence--and long-term prosperity based on unlocking America's hidden-in-plain-view natural resource wealth--might win you the White House in 2012. Contrary to the nonsense that both you and the Democrats love to spout on national TV programs, a great, big country like the United States needs ... demands ... great, big companies. The road to prosperity is not paved by perennially undercapitalized, pathetic little businesses, incapable of providing employees with proper benefits and job security.

Memo to the President: Had you opted for a genuine, truly historic economic stimulus ... creation of a national oil company that would put a vast army of Americans to work developing domestic oil and gas resources that can be profitably produced by presently available and proven methods ... but perhaps not profitably enough to satisfy the shareholders of multinational energy behemoths ... had you done that instead of catering and caving into the Hollywood/Ivy League "save the planet" climate change crowd ... and greedy Wall Street bankers drooling over the prospect of minting billions through the trading and leveraging of carbon credits ... you would have by now been hailed as the new FDR, an unbeatable hero.

The world--our entire modern civilization--runs ... depends ... on oil, and will continue to run and depend on oil for at least another generation. Pretending that isn't true is not only foolish; it's downright suicidal. Just ask the Chinese. They may pay lip service to the theory that human activity is causing the planet to warm up--when there is convincing data that shows that the Earth has actually begun to cool. They have to go along with the idiocy, even they know that, regardless of whether the atmosphere is warming or cooling, the idea that such cycles are caused by industry, and the branding of life-sustaining carbon dioxide (released by instead of causing warmer temperatures) is both absurd and inherently political. China's leaders may talk a good game about wind and solar farms, biofuels and biomass--they have to for diplomatic reasons. But the folks in charge of the world's fastest-growing economy, committed as they are to lifting hundreds of millions of their citizens out of poverty, understand very well the difference between real and phony energy supplies. The Chinese are no more anti-oil than they are anti-air.