News We need an extra trillion dollars

1. Feb 3, 2006

Ivan Seeking

Staff Emeritus
While playing with the numbers and reading some of the current information,
it came to my attention that seemingly no matter what we do, and when we know exactly what we will do, it will cost at least a trillion dollars to end our [U.S.] dependence on oil. Also, we can now predict with some degree of certainty the rate at which oil supplies will decline. It seems to me that a time critical budget is in order that has little room for compromise.

Last edited: Feb 5, 2006
2. Feb 4, 2006

fourier jr

nobel prize winner economist & author of 'globalization & its discontents' joe stiglitz and harvard public finance professor linda bilmes estimated that the iraq war will end up costing $1,000,000,000,000-2,000,000,000,000, depending on how much longer the soldiers are going to stay. that's where your trillion$ could have come from!
sum-up from the LA Times
http://www.informationclearinghouse.info/article11595.htm

the original article
http://www.informationclearinghouse.info/article11495.htm

Last edited: Feb 4, 2006
3. Feb 5, 2006

Ivan Seeking

Staff Emeritus
Imagine that. And we wouldn't even need to be in the ME if it weren't for the oil.

It seems that we can't hope for a serious a national strategy, and I doubt that we can afford to wait for market forces, that is, if we are to avoid catastrophic consequences. So the only answer that I see is to tax the heck out of petro and put the money into alt energy R&D. But of course that will just bloat like drowned pig before long. So how do we ensure that genuine implementation takes place in a timely fashion?

4. Feb 7, 2006

jhe1984

You guys worry too much. It won't take us too long to print it.
~ Hye Prin-flation

In all seriousness, though, it's an easily solvable problem:

Everytime someone in Europe wins the lotto (http://www.bloomberg.com/apps/news?pid=10000085&sid=avLyLdSO_NFc&refer=europe) [Broken], we'll just ask the friendly folks at Langley render them.

And everytime an American wins the lottery, we send them on a free trip to Europe - where they are rendered.

http://en.wikipedia.org/wiki/Rendition

And in the meantime, we can just get every person in the rest of the continents to start scratching off lottery tickets. That's a lot of chances!!

Last edited by a moderator: May 2, 2017
5. Feb 7, 2006

Art

:rofl: :rofl: This is the best solution I've seen proposed to date. Maybe it could be expanded to include renditioning the relatives of rich foreigners until a ransom is paid.

Last edited by a moderator: May 2, 2017
6. Feb 7, 2006

jhe1984

"This is the best solution I've seen proposed to date. Maybe it could be expanded to include renditioning the relatives of rich foreigners until a ransom is paid."

Ahh yes - excellent idea. It could be called "the new foreign exchange rate".

7. Feb 7, 2006

Azael

What kind of timespan are we talking about. One trillion over 50 years is "just" 20 billions a year. If it needs to be done in 10 years thats a whole different ball game.

I dont se why usa has to do it alone either. This seems like it would be the time for europe, asia and america to put there minds togheter and fix this mess. Im sure china and india is very interested in improving there economy without oil.

8. Feb 7, 2006

Azael

I dont know if taxing the heck out of petrol is the solution either. Many european countries do it allready(one liter of gas in sweden is 1,5 dollar, thats around 6 dollars/gallon). But then again the gas tax money doesnt go to alternative fuel research. It goes straight into the bloated budgest of our inefficient socialist goverments:grumpy:

9. Feb 7, 2006

Along with saving our pennies to acquire that extra trillion which we will need to ween ourself from oil, we must first consider how we are going to pay off the current national debts. According to the, Feb AARP Bulletin, that debt amounts to $156,000 for every person in America. I might have to turn to one of our newest service economy businesses, and get a payday loan to come up with my share. 10. Feb 9, 2006 Mk Why do we need to "ween ourself from oil?" 11. Feb 9, 2006 fourier jr i thought oil was going to run out someday, unless i heard wrong? 12. Feb 9, 2006 Mk I don't think we really actually know how much oil is down there. How close are the estimates? Well, we wouldn't know would we? How? I heard on the Rush Limbaugh show that some places in the Gulf of Mexico that proved to have no oil, 8 years later the same people found oil squirting out of the sea floor. 13. Feb 15, 2006 crazycalhoun I like this line. So for 16 bucks a week, I get to help democratize the Middle East. 14. Feb 15, 2006 Ivan Seeking Staff Emeritus :uhh: I hope that you don't believe anything that you hear. 15. Mar 15, 2006 Astronuc Staff: Mentor Well Congress is increasing the debt ceiling - again! http://www.npr.org/templates/story/story.php?storyId=5282521 Congress Set to Raise Federal Debt Limit Again by David Welna - NPR NPR NPR Actually these ratios/percentages are misleading. The debt is cumulative over years, and the quarterly GDP is on the order of$12 trillion, or the annual GDP for fiscal 2005 was about \$49 trillion, so the cumulative debt is about 16% of last years GDP.

See Table 3 - http://www.bea.gov/bea/newsrel/gdpnewsrelease.htm (data may change quarterly)

Hey it's only money.

16. Mar 20, 2006

Amp1

Yeah, now the average J Q public has a debt of 30,000 per person. And the debt has a percentage of GNP is more than 60%. But hey it was more after WW1 and I think WW2, it was more also when the USA was a fledgling country. Never mind that we are now considered a developed country and one of the richest in the world.