Serving Bel Air, Benedict Canyon, Beverly Hills. Brentwood, Laurel Canyon, Los Feliz, Malibu, Pacific Palisades, Melrose, Santa Monica, Sherman Oaks, Studio City, Topanga, Canyon, Westwood & Hollywood Hills.



facebook Canyon News twitter Canyon News

Canyon News

Bel Air News

Beverly Hills News

Brentwood News

Hollywood Hills News

Laurel Canyon News

Los Angeles News

Los Feliz News

Malibu News

Melrose News

Pacific Palisades News

Santa Monica News

Sherman Oaks News

Studio City News

Topanga Canyon News

West Hollywood News

Westwood News

Woodland Hills

Celebrity News

State News

National News

World Headlines

Deaf News





On the Industry

Star Gazing

St. John's Confidential File

Theatrical Musings

Life & Style

Event Listings

Tech Talk

Looking Good For Lots Less

Spirit & Creativity

Miller Time


View from the Hill


Chrystal's Recipe Corner

Career and Life Coaching

Gardening With Tony

Life According To Lenson

Real Estate Realities



Marathon Running

Keeping It Bruin: A Look Into UCLA Athletics






Vi's Corner

Pet Tips

Point of View

John Armor

Message to America

Critic At Large... Ruta Lee

Labor Week


10 Degrees Cooler

McConnors corner

Edge of the west

The Physics Wizard


Kyle's Kars


Susan Michelle's Compass


Ask Deanna

Dear Lily

Ask Oona


Dancing with Earthquakes


Sports Schedules

Traveling Beyond the Canyon

Edge of the West

Law Man

Ask Us

Nathan Tabor

The Angry Economist

Truth Probe

As I See It


Truth Conquers

The Live Wire

Notes from Exile

Letters to the Editor

Dog Training by Anthony

Canyon Mews



America's Most Wanted Dogs

World Recipes

Vegetarian Lifestyle


News Briefs

Local News



Canyon Fodder

Bad Movie Night

Critical Projection

Ed's on the Town

Fitness Quests

Flashback Films

Stories of the Strange

Gourmet Grandma

He Said/She Said

Home Matters with Yvonne

L.A. Etch-a-Sketch

L.A. Ruminations

McConnor's Corner

Mommy Minute

Musically Speaking

My Back Pages

Publisher's Pages


Scene and Heard in L.A.

Silly...But Wise!

Sunset Diaries

Table Options

The Paws Cause

TV Stuff

Cartoon of the Week

McConnors corner

They Do Not Care
Posted by Sean McConnor on Jul 27, 2008 - 7:54:10 AM

At one time, I worked for the LA County schools. I was a clerk for two sites which meant I worked two days at one site and three at the other. In the midst of my employment, we would get these stupid memos all the time about this and that. Finally, I  had it. I told one of my co-workers at the Compton site that I was going to write the bosses in Downey and express my opinion. My co-worker, Ed, said, "Forget it because they do not care!" Sometimes, I think that is what is going on in the oil industry these days.

Hey, I am not knocking the sudden inclination for the oil people to drill in the U.S. again instead of shipping oil from the Middle East in tankers. I understand that in East Texas, a former oil boom spot in the 1920s and 1930s, a surge is underway to drill for oil, gas, and dig for coal. It is a boomtown down there again. You can't get into one county courthouse because the oil guys are trying to find out who owns what, so that they can drill.

What gets me though, is some of the statements made by the oil men and women, such as the cost of oil reflects a weaker dollar (true because everything is high now), turmoil in oil producing countries (the war in the Middle East and the trouble in Nigeria), and the demand for oil from developing countries (such as India and China).

One man, Fatih Birol, an economist for a watchdog agency expresses some pessimism about the oil supply. One Texas oilman, Jim Baldauf, is much more optimistic because there are a lot of lands yet to drill, like the ones in East Texas that I mentioned. And so the debate goes back and forth among the oil industry.

The Associated Press quotes Jim Mulva of ConocoPhillips, a huge oil conglomerate, as saying that the company spent $275 million before taxes on exploration. Sounded like a hefty amount to me and I felt sorry for them until I realized that the company also spent $2.5 billion to buy back its shares. By buying back its shares, the company shrinks the amount of shares on the market, increases the value of the stock, and makes more individual stockholders wealthy. I guess that leaves 99.9 percent of the population out of this oil bonanza because we don't own oil stock or any stock at all.

What is going to drive down the cost of gasoline in the end is what we do as consumers. The value of a barrel has plummeted almost $18 in recent weeks because of a slowing economy. It proves the old saying that you can't get blood from a dry turnip. We consumers don't have the money for gas and we aren't going to buy it at the expense of food and housing to makes others enormously rich and fat.


Cliffside Malibu




Serving Bel Air, Benedict Canyon, Beverly Hills. Brentwood, Laurel Canyon, Los Feliz, Malibu, Pacific Palisades, Melrose, Santa Monica, Sherman Oaks, Studio City, Topanga, Canyon, Westwood & Hollywood Hills.