Jones wrote:
> Critics wrongly blame ethanol, not diesel tractor fuel
> or fertilizer for the rising food costs - and then
> they have the nerve to point the finger at
> "massive"
> farm subsidies ... Ha ... these subsidies are meager
> compared to the tax breaks and value of oil depletiotn
> allowances which are still being given to Big Oil.
Frankly, I get a little tired of hearing about the evils of "Big Oil". What
sort of price structure do you think you'd get out of "Small Oil"? I'll tell
you what: It would be a lot more expensive, that's what. I have no love of oil
companies, but this constant carping about their supposedly evil conspiratorial
behavior is not only diverts attention away from the real problems, most of the
criticism is factually incorrect.
For example, the recent "meager" farm subsidy bill was $307 billion! That's
$1000 for each person in the U.S., or roughly $2600 per household. How is this
meager? Conversely, the oil depletion allowance has been virtually nothing
since 1975. Last time I checked, it was something like $2.5 billion annually,
meager compared to the size of the oil business.
The parliament of whores we call the U.S. Congress let this bill slip through
as slick as ball bearings in mayonaise. Those who think that voting for a
different party will change this are living in a dream world. Both parties
voted for this piece of crap overwhelmingly. It hardly made the newspapers.
Imagine what the response would be if the headlines in all the newpapers had
declared, "Each U.S. Household Forced by Congress to Give $2600 to Big
Agribusiness." Compare that to the pathetic and useless tax rebate checks being
passed out these days.
Instead, we are treated to oil company executives testifying before these jerks
in congress about their supposed "windfall profits". U.S. oil companies have
no control whatever over the world price of oil which is 94% owned by
governments.
Personally, I think these severe dislocations in the production and prices of
oil will finally mean the end of the oil business as we have known it. "Big
Oil" will no longer be a major factor in the world economy and the Middle
Eastern countries that have depended on oil income will have to go back to
their camels. There have been so many ignored alternatives to oil as an energy
source that will now be brought into practical use. I think there is probably
no going back now. But ethanol from corn? I don't think so.
M.
