Economics

Never Been A Better Time To Drill

It should come as no surprise that Americans are getting pinched hard at the pump! I had my own sticker shock the other day when I spent over $60.00 to fill-up my truck that used to cost me $40.00! Our country and our society is feeling some pains that haven’t been felt in over 25 years. With the price of goods on the rise, a trip to the grocery store costing the average family and extra $25 – $50, and an energy crisis that’s driving up our electricity bills–Americans are wondering when it’s going to end!

The immediate issues that appears to be driving up the price of oil is the turmoil in the middle-east. First there was the scare in Egypt that threatened access to the Suez Canal, and then the upraising in Lybia! We all know that we’ve been too depended on foreign oil, and that our economy is tied too closely to the world economy. I’m starting to wonder when our government is going to actually do something about this?

Yes, we have heard the mantra “drill baby drill” from Sarah Palin and other American politicos–however it seems no one in Washington, D.C. is listening! In 2008 a report was released from the U.S. Geological Service that stated in North Dakota, South Dakota, and extreme Eastern Montana existed enough oil that Americans could be entirely independent of  foreign oil. In fact, the Energy Information Administration stated that over $503 billion barrels of oil could be found there–this would equate to a value of over $5.3 trillion dollars.

Oil is not the only resource that Americans should be pursuing when tackling our energy crisis. For years now, I along with many Nevadans have spoke to politicians, organizations, and local governments about making Nevada the clean-energy capital of the world. Nevada is unique in the sense that we the ability with our abundant supply of sun-rays to create massive amounts of solar energy. In addition, Nevada has over 80% of barren land we can use to generate this energy. Unfortunately, the Federal Government owns most of this land and without the Feds as partners much of this will never happen. Just another example in my opinion why big government and specifically a Federal Bureaucracy out of touch with the states shouldn’t have too much power!

Nevada is also poised to become the nations leading geothermal energy producer. In a 2009 article writing by Las Vegas Sun reporter Stephanie Tavares she states, “…anticipated growth in production in Nevada is expected to be triple the growth of California. Nevada is expected to produce more than 3,600 megawatts of geothermal energy in the next 10 years…”. So, I ask again why we as a nation are not being more aggressive in obtaining energy independence? I can speculate about our politics and the complications of foreign relations, but none of this will move us any closer to a solution.

It is my opinion that states need to take a more proactive approach to this very important issue. We can’t rely on our Federal Government to make the important decisions that have such a profound effect on our citizenry. We also must encourage individuals to advocate on behalf of this issue to their Legislators, Governors, and Congressional Representatives. I took the step several years ago to join former Shell Oil CEO John Hofmeister’s group called Citizens for Affordable Energy. This has allowed many Americans the ability to be informed about the realities of energy independence. Groups like CFAE are not only great sources of information, but networking tools for activists to share information on the developments of alternative energy projects. I would urge anyone interested in seeing our country become energy independent to engage yourself in the public arena. Talk to your Lawmakers, write your Congressman and Senators, and most of all urge your government to pursue sources of energy in our own nation. It is time we stop sending our money over-seas and instead create jobs here in America that can help us lower our prices at the pump.

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Sunday, March 6th, 2011 Economics No Comments

Is The Bear Market Starting to Become Bullish Again?

Ok, so the analyst are saying that they are seeing some increase in the amount of money investors are starting to put into the market. Many are starting to wonder if this means the bear market is starting to get a little more bullish. However, what many investors are doing, is putting their money into less volatile stocks–unlike the risks we saw investors taking in 2007, folks are still reluctant to back hedge funds and new technology. › Continue reading

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Friday, July 24th, 2009 Economics Comments Off on Is The Bear Market Starting to Become Bullish Again?

Positive Economic Numbers…Are We Recovering?

The Associated Press released this information today regarding the positive number of the Dow Jones:

NEW YORK (AP) — The Dow Jones industrials rose back above 9,000 for the first time since early January. Investors snapped up a broad range of stocks Thursday, sending major indexes up more than 2 percent, after existing home sales jumped for the third straight month in June. The 3.6 percent increase in home sales has investors excited that the hard-hit housing market might be improving. The National Association of Realtors said sales came in at 4.89 million, above the 4.84 million analysts had been expecting.

If we keep seeing people get back into the market, the tide could move in the right direction for all of us. The question is, have we hit the bottom? In my opinion if we haven’t hit the bottom in this bad economy, we are pretty darn close.

The Associated Press also released these numbers today:

WASHINGTON (AP) — The U.S. housing market has started to recover from the most far-reaching crisis since the Great Depression, data released Thursday show. Sales of previously occupied homes rose for the third month in a row in June, the National Association of Realtors reported. That hasn’t happened since early 2004, during the boom. “The turnaround in the housing market appears finally to be here and indeed may be gaining some speed,” wrote Joel Naroff, president of Naroff Economic Advisors Inc.

I find this latest news to be a truly encouraging considering all the negative data we generally see. I continue to put my faith in America’s economic recovery in the people of this great nation. I don’t believe that government will get us out of this mess, but however it will be the entrepreneurial spirit of our citizenry. I don’t believe that we can spend our way into prosperity and hope for positive results. In the end, these latest numbers can give us some optimism, that we will get through these tough times. As I publish this, I am watching the Dow Jones, and it currently sits at 9082.97…keep rising!

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Thursday, July 23rd, 2009 Economics Comments Off on Positive Economic Numbers…Are We Recovering?

Jobs, Jobs, and More Jobs!

In my last article, I commented on the more than 12,000 jobs being filled in Las Vegas at MGM CityCenter–now we have the news that Hard Rock Las Vegas is filling more than 500 positions! It is my hope that when the analysts said that the Las Vegas economy would start to come back during the fall of this year–they were right! › Continue reading

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Tuesday, July 21st, 2009 Economics Comments Off on Jobs, Jobs, and More Jobs!

Glimmer Of Good News On Las Vegas Business Front

When most of us turn on the news or read the newspapers these days, it seems all we see is negative forecasts on the business front. However, as someone who is on the ground in the business world here in Las Vegas, I’d like to bring you some positive developments on the business front!  › Continue reading

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Monday, July 13th, 2009 Economics, Nevada Comments Off on Glimmer Of Good News On Las Vegas Business Front

Solutions to America’s Energy Crisis

It is time for me to chime in on one of the big topics of the day; the energy crisis. Everyone has an opinion on this and everyone seems to have an answer as to what is the best course of action. However, I don’t believe that one person has offered the one and only answer to solving the energy crisis.

What I believe is that everyone who actually wants to find a solution to this problem has something to offer. It is my opinion that a collective effort by all of whom want to do what’s right for this country is truly the answer. T. Boone Pickens has great ideas to use wind power to generate up to 20% of the energy this country uses. Unfortunately, Mr. Pickens needs some engineering scientist to help find answers to storing the energy. John D. Hofmeister, the former CEO of Shell Oil Co. also has great ideas for trying to make energy more affordable. Those that advocate for greater exploration of natural gas also have great ideas.

To this point, I believe the answer to energy independence for the United States is very similar to the strategies used by investors–In one word “Diversification”. We cannot depend on one source of energy to curb our dependence on foreign oil. While I advocate drilling as much as possible in the United States, on and off-shore, I also believe in wind power, solar power, nuclear power, and the pursuit of more natural gas. Like investing in the market, we can’t put all our eggs in one basket.

None of us have to speculate as to why our government has not pursued all these options up until now. There are of course many political and financial causes for our current crisis. I do believe that we are past the point of no return on fixing the energy crisis. The issue is polling high among the American public and has become a part of the stump speeches of our current Presidential candidates. So there is no denying that implementing a solution sooner rather than later is on the agenda.

If we look at the energy crisis like it’s a national security issue which it is, then we will find that those able to implement change will then do so. Protecting our great nation from outside vulnerabilities has to be a priority for us. The time for apathy has passed and the need for real action has arrived. Diversification is the answer to the energy crisis, we just need to get the word out as Americans that we demand action now not later.

Wednesday, August 20th, 2008 Economics No Comments
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