Political Review - realoutlook.com

All the glorious rhetoric about the achievements of the socialist revolution won’t put a Russian can opener on the shelves of Wal-Mart. Any hopes the former core of the Soviet Union and one time beacon of the world wide communist revolution would join the world economy with the reforms of Gorbachev and Yelstin have been dashed by the regressive rule of Vladimir Putin. For all practical purposes Russia is a resource rich third world country with nuclear weapons intent on reviving it’s expansionist aspirations using it’s energy resources to subdue Europe and expand it’s control of those resources by reasserting political control of any former republic that could supply energy to the West on it’s own. (more…)

As Iranian President Mahmoud Ahmadinejad repeated his threat to shut down the straight of Hormuz on Monday it becomes apparent that development of domestic oil supplies is as much a matter of national security as it is a solution for skyrocketing gasoline prices and all other petroleum related products. After dragging oil executives into hearings time and again [ Oil Prices Leave Congress On Empty ] and testimony by futures market regulatory officials Congressional leadership has done nothing. On July 24 I voiced my concerns to Senator Barbara Boxer of my home state of California with the following submission to her website: (more…)

Oil company executives are dragged before Congress time and again suffering indignities at the hands of elected officials who are more to blame for the current oil prices and pending shortages than the industry titans that have consistently delivered this complex product for more than a hundred years with the exception of 1973 when the Arab Oil Embargo sent a delicate delivery system into disarray. Exxon-Mobil, British Petroleum, Shell Oil and others are threatened by the legislators with excess profits taxes on profits that, while staggering by their numbers, are hardly excessive representing eleven percent or less on investment over the last five years. They are more than willing to invest these profits developing new domestic supplies and refineries to process petroleum products were it not for the restrictions imposed by the pompous interrogators who cast a shadow of wrong doing but never issue an indictment for their acts. (more…)

The political mania surrounding biofuels has overshadowed it’s short comings and some of the hidden costs which have already shown up at the dinner table. In addition to the increased commodity prices paid for by consumers, tax payers cover the government subsidies, currently 51 cents per gallon, paid to ethanol producers. Though there is no question drastic measures are required to secure the nations future energy supply there are a great many questions as to weather current policies are in the best interest of consumers and taxpayers or the world community in general. (more…)