11 Replies to “In Conversation With Tom Friedman’s House, A Continuing Series ….”

  1. Heard an interesting tidbit on CBC radio..(yeah…when driving)…
    Europe is very dependent on Libyan oil, North America, not so much.(Sry…didn’t catch the name)
    Rise in gas prices?…speculation, and fear mongering.

  2. It doesn’t matter whether the oil from Libya goes to Europe or N.America. Crude is bought on contracts which do not differentiate. The price goes up for everyone. The only reason that N.American crude is $15 a barrel cheaper than Europe is because Western Canada cannot ship overseas with any volume. Our oilsands production is captive to pipelines servicing the USA.
    It should be a national security issue that the Enbridge pipeline into Kitimat be built as soon as possible. Absolutely a no brainer that the federal conservatives should have done already!

  3. Friedman needs to go back to school and study economics and not Marxist truth.
    bluetech, I suspect the CBC dimwits went to the same school as Tom Friedman. What about world market discovery do they not understand. It is the same with any commodity and does not matter whether there is a down trend or an uptrend. For example, if there is a perceived 5% drop in wheat stocks, the price moves up say 10% and if there is an expected 5% increase in wheat stocks, the price drops by more than 5%.
    All commodity price discovery works more or less the same. Buyers and sellers over react.
    Oil buyers are expecting that worse will come and bid up the price of a barrel.
    Someone with more expertise could comment.

  4. Sunday night at the Oscars could be really fun . . . the arctic outflow that brought snow to Seattle,then Portland is now entering California and the forecast is that it will bring chill temperatures to LA by Sunday.
    So all the 2 brain celled Liberal LA types, who think they are green if they drive a Prius from their 20,000 sq ft home to the airport where they can board their private jet might have a real chill on the Red Carpet.
    Ohhhhh great saint of San Andreas . . . hear our prayers 🙂

  7. Ken I think you are right. They must mantain a supply. That is priority one. Everyone is also trying to maintain supply so the price over reaches what they may actually think it will be. Gotta have it? Gotta pay the piper.
    I think the loss of production is about 2% but a lot of wells are shut in and abandoned and staff has left the country.

  8. Saudi Arabia has announced an increase in production to “stabilize” the market.
    Watch for Eygpt to interveen in Libya for humanitarian reasons…..taking control of the oil fields at the same time…good business with alleged global approval(UN).

  9. “end your addiction to oil.”
    No more stupid words have ever been spoken. We don’t hear anyone lament our addiction to lumber, copper or wheat for that matter. And for good reason. These materials make our modern life much better than it would be otherwise. I certainly will never feel regretful for using oil to these same ends.

  10. With the volume of the atmosphere of the earth being such an infintismal fraction of the galactic volume I suggest that Friedman end his addiction to oxygen.

  11. sasquatch@2:16
    I am very surprised that your suggestion hasn’t been discussed yet. Libyan population of 6 million with oil production of 1.8million bpd. A desparate Egypt who cannot even feed their people. I remember a few years back there was actually a border skirmish when Omar was at his worst. It would certainly help the Egyptians solve a lot of their problems.

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