Rossputin.com: Rational Thinking About Our World

Thanks to Greg Staff for sending this note...

It's interesting that "big oil" is so universally reviled by the left side of the aisle. Hillary has even said that "oil companies" do not need all that money and she's going to take their profits and lead us on to energy independence, to wit:

"The other day the oil companies reported the highest profits in the history of the world. I want to take those profits and I want to put them into a strategic energy fund that will begin to find alternative smart energy, alternatives and technologies that will begin to actually move us toward the direction of independence!"

Hilary Clinton - Source: Speech at Democratic National Committee winter meeting Feb 2, 2007

But what companies are conducting leading edge research to wean us away from crude oil? The oil companies, for a start:

http://www.chron.com/disp/story.mpl/front/5334375.html

But Hillary's "plan" would slam shut R&D by the major oil companies, and put it in the hands of the government, which of course knows best how to direct funds such that the greatest return is received. [dripping sarcasm].

Hillary's plan would also bring oil exploration by US oil companies to a screeching halt - can you spell "gasoline lines?"

The government-funded NREL (previously SERI) in Golden has probably spent close to $6 billion present-day dollars in its 30 years of existence. It has laudable goals and a great self-promotional website (http://www.nrel.gov/), but what has it actually produced?

Keep R&D - especially energy R&D - as much in private hands as possible to see the greatest achievements.

Greg Staff