Letters
Readers' Forum: May 26, 2008
Mark Bennett’s Thursday column headlined “Alorica’s announcement is a solid single for Terre Haute’s economy” was right on.
We are not grateful for the small things. We think they are nothing unless they are as great as we think they should be. But $9 per hour is good for someone who does not have a job. We all would like to make $15 or $20 per hour, but we all do not have the qualifications for that kind of money.
I think we should welcome any company who wants to come here to Terre Haute and bring jobs.
— Ruth Stringer
Terre Haute
Increase supply to lower oil costs
In response to the recent rise in the cost of a barrel of oil, I propose that the Department of Energy completely empty all of the oil in the Strategic Petroleum Reserve onto the open market at the current spot price (I know the Senate recently voted 97-1 to stop filling it but it is my opinion that this will do very little do help bring down the current price of oil).
With the revenue generated from selling all of this oil, the DOE could buy a series of futures contracts (and/or put options) equal to the amount of oil that is currently held in the reserve (or an amount that to what is deemed sufficient).
These contracts should not be immediately purchased — unless of course the Congressional Budget Office or the Government Accountability Office forecasts that the price of oil is not going to subside any time within the foreseeable future — but should be purchased over time via dollar cost averaging so as to “buy low and sell high.”
In the event that the SPR is needed (such as with Hurricane Katrina or, God forbid, an incident of terrorism), the DOE could exercise these contracts with their respective counterparts. Moreover, if the price of oil falls — and a series of futures contracts and/or put options is purchased — and then spikes again, the DOE could then exercise these options (by buying oil lower than the current spot price) and immediately reselling the oil on the open market at the much higher spot price for a substantial profit.
Had this policy been enacted after the oil spikes of the 1970’s, we would have purchased a series of oil futures contracts and/or put options which the DOE could be exercising today — just think of the revenue that this would be generating.
Lastly, I would like to add that the only realistic way — given our current technological limitations and the remarkable efficiency of oil — to address the price of oil is to increase supply. And the only way to increase supply is to bring more oil onto the open market by either encouraging our suppliers to produce more or by producing more here at home (we could auction off the reserves located off the west coast of California and/or in the Arctic National Wildlife Refuge (ANWR) in Alaska).
The current rhetoric of Implementing a windfall profits tax, increasing subsidies to biofuels, enacting a “gas tax holiday,” or continuing to trot the executives of the oil companies in front of Congress does nothing to increase the supply and is therefore ineffective.
Long-term energy alternatives are needed, but the government should not be in the business of picking winners and losers via subsides.
— Travis Walker
Terre Haute
- Letters
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Readers' Forum: March 15, 2010
• Call them by their official name
• Book gives insight into nation’s course
• Quilters showed great compassion
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FLASHPOINT: ISU faculty have every right to complain about ISU’s plans
In its lead editorial of March 10, the Tribune-Star suggests that ISU faculty resist the urge to complain publicly about the potential impact of state budget cuts to higher education.
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Readers' Forum: March 14, 2010
- GOP disciples live in world without facts
- Modesty small price to pay for saving lives
- Get the attention of Washington
- Lack of respect from the GOP
- Thanks for great care from doctor
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Readers' Forum: March 12, 2010
• ISU ignoring better options to weather crisis
• Academic cuts will have adverse effects
• Election proposals accomplish little
• Biblical prophecies becoming reality
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Readers' Forum: March 11, 2010
• Faculty see reality, but seek better ISU alternatives
• Keep abortion out of health reforms
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FLASHPOINT: ‘Responsible Bidder Ordinance’ provides taxpayers best value
It is a disservice to the local taxpayers and an unnecessary fear tactic that the Terre Haute Chamber of Commerce misrepresented the intent and facts surrounding the proposed Responsible Bidder Ordinance (RBO) as written in the Opinion section of the Tribune-Star on March 10.
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READERS' FORUM: March 20, 2010
• TableScapes a great success
• Commitment to teaching, learning
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FLASHPOINT: ‘Responsible Bidder’ ordinance would hurt existing businesses
I recently testified representing the Terre Haute Chamber of Commerce to the City Council regarding the proposed “Responsible Bidder” ordinance.
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READERS' FORUM: March 9, 2010
* Don't give up on health care reform
* Better places for a new gravel pit
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READERS' FORUM: March 7, 2010
Why do some fight against new jobs?
Great things have begun in 12 Points
Control crows with dollars and sense
Americans need to think for selves
Stop fretting, start celebrating crows
- More Letters Headlines
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Readers' Forum: March 15, 2010
