Embarrassment on Energy

Congress has just adjourned for summer recess. Speaker of the House Nancy Peolosi and her ilk need now to explain to the all of the American people WHY she's agains off shore drilling. And her constutients in Los Angeles,San Franasisco,the Bay Area are the ones who are hurting from here inacation. Motives as to why she's against something domestic and could benefit all; she needs to give a much more clarified explaination. High gas prices hurt all. No matter where you all from the Northeast to the Southwest. Also Speaker Pelosi shouldn't tell the state of Florida that they can't drill. Second thier wrong on the issues on the oil. Nine to ten years has been explaination. But now its one to two years. Economonist and oil experts have come and said this. Harry Ried and Speaker Pelosi and Senator Obama are wrong the issue. But they have made one miscalulation: the power of the American people. How we see right through them.

Here's a follow up story. Kroger has opened thier gas pumps as of Wednesday of this week. Already in some parts of Vicksburg Ms gas has dropped by ten cents. Kroger makes terrific offers for thier customers with thier Kroger Card. Where u can save money. Kroger wants to be a serious competiter in this marketplace. The Warings have been real quiet. But now stories about their obscene wealth is leaking out all over the place. Like fountains in the backyard,large swimming pools with covers and thier mansion if one could call it that wih automatic on and off lights. Businesses like the Warings and others have exploited the local populace to get rich. Their own selfishness has prevent competition and I honestly now believe has ganerated negative images which has made some corporations say no to Vicksburg all together. Perception of price gauging remains and the locals feel they've been ignored. Seriously. They're getting tired and upset at the fact that anti-business clique has gotten its way for so long. Jobbers like Waring Oil LLC who have too much control from oil to real estate should be examined. U will not find Waring Oil on the New York Stock Exchange,NASDAQ. It's just a private jobber whose gotten to big for its britches. Also the other story I heard about them in the past they turned Standard Oil preventing them from coming here. Like speculators Jobbers like Waring Oil who have distrubition points all over the state of Mississippi should be scrutinized. Word is too they have been exploiting other markets to get wealth and the other fact they don't allow real competition to flourish in Vicksburg. The Warings have political connections that need to be scrutininzed and one web search they even have Federal contracts. Now is time to raise the harder business questions: Why are the Warings afraid of real competiton? Who gave them the right to tell Kroger and Walmart they can't put in gas pumps? What right to do they have to chase out competitiors from the marketplace all becouse that competitor doesn't what to play by his rules of pricing? By using the art of refusing gas. Where in Jackson and other markets across the state Vicksburg is the highest. The exscuse is this Tourist town. But a dieing tourist town becouse of businesses leaving or going bankrupt. Locals here feel ignored and don't feel no one isn't looking out for them at all. Now Warings have been quiet for the past few years. Now Dan Waring tried to cut a deal with Starbucks with one of his stations but I doubt it didn't fall through. Why follow up on the Starbucks angle on this to see why. Why? Becouse no one isn't buying commerical real estare in the River City.

Keep trying to find out what our energy policy is Alexis. Everyone in America seems to want to do everything to gain our independence on energy including drilling, conservation,coal and all alternatives. The ones that do not get it is the congress! Keep asking everyone until you get an acceptable answer. Also, on cavato last night, we can do without the nut case that hammered Tracy. Her personal life has nothing to do with the topic. When divorce happens, both parents must take responsibility for the kids regardless of income status. Have a great day and keep up the good reporting.

Alexis, just had to throw this in, Nancy Pelosi has schizophernia, A lot of the others are catching it. Especially Obama, that's why his polls are going down.He need not blame anyone but himself, too much YESMAM !!!!!!!!

Re: Housing bill. Alexis, I tried to read thru it a few times looking for where the opportunity will be to make money investing from this crisis. One part of the bill to which I keep returning is the section of Manufactured Homes. It looks like they are raising the amounts that can be financed and the loans sold to GSEs. Is anyone at FBN going to review the Housing Bill? It would be an interesting story angle if manufactured home sales benefitted from the bill. That is how I read it and bought some stock in a couple of the manufacturers. Any insight from the business folks at FBN would be truly valued. thanks, RC Lightning

Alexis, sorry to put this in here but I cannot find any information about Neil. Where is he? I hope he's not ill! I must have missed it when it was announced that he would be off....it's been, what 3-4 weeks now? Sorry to throw this in here but cannot find another place to ask. Could someone in the office reply to me at my e-mail if you don't want to include it in the blog....Thanks! We miss him.

Hi Alexis, It is an embarrassment but Congress has higher priorities right now like apologizing for slavery. Despite the ineptitude of Congress, I believe there are ways that the private sector could adapt to the current challenges and make improvements that would benefit a struggling industry and consumers. It's Time for Oil & Automotives to work together. Oil companies are spending large amounts of money advertising on television, radio and billboards. They are trying to win brand loyalty by extolling the virtues of their gasoline’s cleansing properties! It’s GASOLINE, give me a freaking break! At $4.00 per gal, people are looking for the cheapest price down to the penny. SOLUTION: Big Oil, eliminate that small fortune in advertising that is wasted. We know you are there because we see you on every street corner. We don’t care about your octane at this juncture. Consumers know how much gas they consume every week as they fill their tanks. It’s a simple equation. They can calculate that average and extrapolate their annual average gas consumption per family or household. You want them to loyally buy gas from you? Issue annual contracts in which consumers commit to buy a specific monthly or annual amount of gas from say Exxon, Shell or Chevron stations or stations supplied by your companies. This would be like a cellular phone service contract. How would you motivate consumers to commit to such a contract? That begs the age old question that every consumer needs answered – “WHAT”S IN IT FOR ME?” What is in it for the consumer with wireless phone contracts? Usually it involves a competitive rate and a very low price on a high quality phone. Sometimes they give the phone for free if the contract is long enough or large enough. So instead of “Big Oil” spending a fortune on useless commercials and billboards, they can procure multi-year contracts with consumers by partnering up with GM. GM would sell the gasoline contracts to car buyers with the motivator being a DEEPLY discounted price on the car. This would be especially effective with the gas guzzling inventory. GM would be paid by the oil company for each contract. This would be a win-win. The consumer would not be committing to specific price – but rather a specific MARGIN. It would guarantee the oil producer/refiner a specific margin like an adjustable loan does to a lender, for example Prime + (whatever %) over cost. It also guarantees the producer/refiner a loyal customer for a period of a year or more. (The longer the contract, the lower the car price) It also guarantees the consumer that they won’t be stuck paying a higher gas price than everyone else if oil were to fall dramatically during the contract. Their price would fall as well. They would just be committed to buy a particular brand at a specified percentage over cost. The technology is here. They issue a credit card that keeps track of their spending as they swipe it at the pumps as most people already do. The consumer doesn’t need to go around looking for the station with the lowest price because if one day they happen to be in an area where prices are higher, they will pay their contract price, not the price on the station’s marquis. The stations will benefit from increased traffic and sell more products at their convenience stores, which is how gas retailers make their profits anyway. This is a strategic alliance that would make sense for oil companies and automotive companies because their products are quite correlated. It could work even more efficiently if Big Oil were to acquire the troubled automotives. As one company they would have more flexibility with prices. For more on that subject read my column “A Big Oil Bailout of the Big 3” at http://tableofwisdom.com/Big_Oil_Bailout_-_Big_3.html

How about the fact that more than 30% of oil drilling in this country is being shipped overseas and sold for high profit? If we stopped the overseas sale of oil from our pumps, we would be able to meet our own needs much better. The oil companies do not want to go along with this. The rule was no oil out of the Alaska fields could be shipped overseas when started in the 70's. In the 80's with oil prices very low the President signed a bill to allow oil companies to ship our oil overseas. Well, no one has recinded that law - nor even talked about it. Why not do that right now and keep our oil here? It looks to me as if the oil companies and the administration are holding hands. The administraion refused to give Congress the figures for oil sold overseas recently. Why?

Companies do not PAY taxes! Companies COLLECT taxes from customers and investors. Please correct your reporting. This is basic economic fact that is continually misreported.

What has the Department of Energy ever done to warrant it's cost? I have no idea whatsoever. I do know this, however. Congress has failed to listen to the voices of the voters to whom it is responsible. Congress is stuck in a mindset that the voters have discarded. Unless the moratoriums and red tape on domestic energy exploration and harvesting, expedited construction of new refineries and nuclear power plants are lifted completely, this country faces an economic ruin like it has never seen before. Apparently, Congress will recess without voting on lifting any of the current moratoriums on exploration and harvesting. I have no idea what it will take to move Congress in a meaningful way.

I fully agree, Alexis. The lack of will among Congress to get this bill passed without earmarks and pork is extremely embarrassing. If they hit their recess without a resolution, all members should be absolutely ashamed, and all Americans should voice their opinions as loud as can be. We elected these people to make a change, and they really haven't done a thing to show for it.

Alexis, It should not come as a surprise that any bill passed by our government contains the measures necessary to erode our way of life. Whether we speak of privacy needs or financial chaos, based on the M3 money supply or any other issues, Congress does what it has done for many, many years; harm the American public by not doing what is right and just for the people of this country. Our government voices many high sounding themes to benefit and help all of us, but words are not actions and their actions speak louder than their words. Keep up the good fight to find and publish the truth, maybe change that is good will eventually triumph. Bob

Give them hell Alexis