What a week! Oil plunged like Pamela Anderson’s neckline. If you are a motorist the plunge was good to see. If you held shares in Ivanhoe Energy (IVAN) or other small oil companies it was a disaster.
A friend in South Africa asked me if the plunge was caused by Fracking. I emailed him and said I think the plunge is being caused by geopolitical forces that are even stronger than the seismic quakes that fracking brings about.
The US and most of the Arab states want to sock it to Iran, ISIS and Russ Putin. The Saudis also want to show they can squeeze US shale oil and gas producers. The Chinese are happy as pigs in their own slop as they are buying scores of supertanker loads of oil cheaply and storing it.
I have no clue if President O’Gruber and Secretary of Entropy Alfred E Moniz are happy with low oil prices. They probably are not as this puts a dent in their policy of supporting nonsense companies like Ivanpah and Bloom that pretend to lower carbon emissions while costing taxpayers and ratepayers a fortune.
Al Gore has not been quiet of late. A google search of Al Gore and dropping crude oil prices yielded this cherry of a story where Al Gore likens the drop in oil prices to a scene from the Roadrunner cartoon.
Yeah Al you and Kleiner Perkins invested in multiple Acme Green Snake Oil Companies but don’t worry your investment in Luca Technologies was the worst of the gangrene bunch.
Luca even had the "green" audacity to leave gas wells in Wyoming unplugged when Big Al finished reading Chapter 6 of his book A Convenient Untruth and the company opened the first page of Chapter 7.
Why Bloomberg interviews Big Al for an opinion on oil is beyond me other than they are both Bio Fools. Big Al’s partners at Kleiner Perkins were sucking wind long before oil dropped this week. The demise of Fisker and the greenwashing at Bloom have nothing to do with geopolitics. They simply were green fakes like Big Al.
I can imagine that Big Al will start his own cartoon network that he will sell to Al Jazeera for millions. I think Big Al could start Mashugana Network and he would have the motto “let’s all worry”. I was a real Mashugana to vote for Big Al in 2000. Yes the Green Machine did vote for the hypocritical green opportunist. Al talked of the scene in the Roadrunner where the running feet were hanging in midair. Were these hanging chads??