What (else) is wrong with the presidents "energy initiatives"?
"WASHINGTON (CNN) -- Comparing U.S. dependence on overseas oil to a "foreign tax on the American people," President Bush on Wednesday proposed a series of energy initiatives, including more oil refineries and nuclear plants, to combat the problem."
We already know that if there is going to be an unfair tax on the American people, it should be imposed by Americans -- right? Here's proof which we discussed in an earlier thread:
"Exxon Mobil Corp. had a quarter for the record books. The world's largest publicly traded oil company said
Thursday high oil and natural-gas prices helped its third-quarter profit surge almost 75 percent to $9.92 billion, the largest quarterly profit for a U.S. company ever, and it was the first to ring up more than $100 billion in quarterly sales."
In addition, there is a clear preference toward unsustainable, environmentally dangerous sources, like nuclear. Like oil, nuclear fuel has the same inherent problems related to finding, collecting and controlling a finite supply.
Here is where (I think) it gets interesting. The article below reads exactly like a typical article addressing oil inventories. I think most of us would agree that this is not a big surprise. However, this is the first time I've seen it in print by an organization dedicated to tracking
nuclear fuel markets.
"The decline in global commercial uranium inventories is rapidly shifting an inventory-driven market to one that is production-driven. Consolidation over the last several years has squeezed the number of uranium suppliers, reduced geographical diversity, and now several existing and future uranium production centers are in question. In the interim, long-term indicators are pointing toward a demand curve that will exceed supply within the next several years and ultimately lead to higher prices."
Some of you are better informed than I am so, I apologize if this particular discovery has already been covered.
Mike
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