Clearing an unholy mess the holy way

  • 2 Jun 2008 23:09:58 GMT

    Well said Hon Mahnayake of Malwatte.I wish he also ask the authorities to remove the absurd roadblock front of the Sri Dalada maligawa where motorists have to suffer 5 miles long diversion around the lake,where no less than 10,000 cars a day waste2500 gallons of petrol in wain.Only terrorist that will succeed will get to it`s target thropugh the barricades with the full approval of the authorities,where wide sale corruption has undermined democracy,inefficiency and the security of the nation.

  • 3 Jun 2008 00:25:41 GMT

    The root cause of the energy crisis is known very well in other countries but unfortunately not in SL. It is the `supply and demand`. Now even JVP is putting the blame on the previous UNP regime. If the UNP is the reason for the Global Energy Crisis, then the UNP should be considered as a `Super Power`.

    The present situation is the start of a severe crisis because Crude oil availability is limited and the demand is ever increasing. We have not planned for anything.

    A major oil producing country such as Brazil, has developed the technology to process sugar cane by-products, to produce Ethanol which in turn is being used in Blending with Gasoline with 85% to 15% gasoline/Diesel. In Brazil almost all heavy vehicles and cars etc. run on 85% Ethanol. In Canada, heavy vehicles such as buses, run with the 85% Ethanol mixture but in Canada they use Corn because they have plenty of corn and sugar cane cannot be grown in Canada.

  • 3 Jun 2008 04:15:40 GMT

    There is an interesting article by Ralph Nader who is running for U.S president as an independent on why the Oil price is so high. Some excerpts from the article.

    [Oil was at $50 a barrel in January 2007, then $75 a barrel in August 2007. Now at $130 or so a barrel, it is clear that oil pricing is speculative activity, having very little to do with physical supply and demand. An essential product petroleum is set by speculators operating on rumor, greed, and fear of wild predictions.

    Over the time since early 2007, U.S. demand for petroleum has fallen by 1 percent and world demand has risen by 1.3 percent. Supplies of crude are so plentiful, according to the Wall Street Journal, traders of physical crude oil say their market is suffering from too much supply, not too little.

    Iran, for instance, is storing 25 million barrels of heavy, sour crude oil because, in the words of Hossein Kazempour Ardebili, Iran s oil governor, there are simply no buyers because the market has more than enough oil.

    Mike Wittner, head of oil research at Societe Generale in London agrees. There s various signals out there saying for right now, the markets are well supplied with crude.

    In an ironic twist, the major price determinant has moved from OPEC (having only 40% of the world production) and the oil companies to the speculators in the commodities markets. What goes on in the essentially unregulated New York Mercantile Exchange (NYMEX) without Commodity Futures Trading Commission (CFTC) enforced margin requirements, and, unlike your personal purchases, untaxed is now the place that leads to your skyrocketing gasoline bills. OPEC and the Big Oil companies reap the benefits and say that it s not their doing, but that of the speculators.

    Deborah Fineman, president of Mitchell Supreme Fuel Co. in Orange, New Jersey, summed up the scene: Energy markets have been dictated for too long by hedge funds and speculators, who artificially manipulate the numbers for their own benefit. The current market isn t based on the sound principles of supply and demand but it is being rigged by companies and speculators who are jacking up prices for their own greed.

    Harry C. Johnson, former banker who worked for many years inside Big Oil and ran his own small oil company in Oklahoma, blames the CFTC, the Department of Energy, the Administration, and Congress, as asleep at the switch on an issue that is probably costing U.S. consumers $1 billion per day.

    He cites some industry experts, who profit greatly from the high price of crude, and have stated openly that the worldwide economic price of crude, absent speculators, would be around $50 to $60 per barrel.]

    For more go to http://www.countercurrents.org/nader300508.htm

  • 3 Jun 2008 21:00:16 GMT

    I do not think Ralph Nader is running for the presidency in the US because a candidate need a minimum number of supporters during a preliminary election. He does not have.

    I doubt it very much if the Crude oil price ever go to $50.

  • 4 Jun 2008 03:45:13 GMT

    [Nader has run for President of the United States five times (in 1992, 1996, 2000, 2004 and 2008). In 1992 he ran as a write-in in both the New Hampshire Republican and Democratic primaries, and other primaries. In 1996 and 2000, he was the nominee of the Green Party in 2004, he ran as an independent, but was also endorsed by the Reform Party.]

    http://en.wikipedia.org/wiki/Ralph_Nader

    You are entitled to your opinion on whether the Crude Oil price will

    ever drop to $50 but then Ralph Nader is citing INDUSTRY EXPERTS who blame the speculators for the current high price.

    If the US authorities will act against the speculators, we will know for sure where the price will ultimately settle down.