Gashostage.com

World oil prices could triple if the West’s stand-off over Iran’s nuclear programme escalates into conflict, the Saudi Arabian government has warned. The Saudi ambassador to the US, Prince Turki Al-Faisal, said such an event could send prices spiralling from their current level of about $70 per barrel. Iran is the Opec cartel’s number two oil producer and analysts fear it could halt exports if the dispute worsens. Tehran is currently examining proposals aimed at ending the diplomatic impasse.

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Scare mongers are already ringing the bell of warning, stating that oil prices will more than triple in the event of a war with Iran.  One wonders if these scare tactics are being perpetrated by the big oil conglomerates.  You have to expect that the prices will increase substantially in the event of a war as Iran is a major player.  But to start the panic now is silly.

It was with great apprehension that Winston Churchill converted his military from coal to oil. He understood that being reliant on your enemy for the primary resource that runs both your military might and your economy (which also pays for your military), is a fools strategy. Left with no other viable alternative energy option, he converted the military to oil to make gains in the speed and efficiency of his fleets. Churchill would be rolling in his grave if he could see the magnitude of the mess we are in today.

The good news is, we now have efficient alternative energy sources that are also economically viable. FFV vehicles that use E85 and hybrid cars are already available to supplement our energy needs, heck forty percent of Brazilian cars today are already fueled by ethanol. Converting to these alternatives would reduce our national security/economic/environmental concerns and increase demand for some of our wilting farming sectors.

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Former Enron Corp. President Jeffrey Skilling says he contemplated suicide after his company crumbled and authorities began to ratchet up legal pressure on him.

“I’ve come to the conclusion that life is better than the alternative, which was not a conclusion that was real clear to me for a period of time,” Skilling told The Wall Street Journal in an interview published in Saturday editions.

Skilling, 52, said he sought psychiatric help but was only able to emerge from a deep, two-year malaise after his 2004 indictment in which he was charged with conspiracy, fraud and insider trading, among other counts.

“The indictment, in a lot of ways, that was the turning point,” Skilling told the newspaper. “That’s when I started climbing back.”

During those couple of years of depression, Skilling said he turned into a recluse, retreating to his mansion in an upscale part of Houston, where he lingered in bed and obsessively followed coverage of the scandal.

In the interview, Skilling insisted he was innocent despite a jury convicting him on 19 counts.

Skilling says that he stupidly helped convict himself by telling federal authorities — whom he described as the “Gestapo” — too much.

“I was the best source of information that the government had,” he said. “Absolutely.”

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Does anyone actually feel sorry for Mr. Skilling?  This man helped swindled thousands of investors by “cooking” the books at Enron.  I understand how he might want to commit suicide, I just wonder how many people who lost everything they own because of his actions also considered suicide and does he care? 

Jeffrey Skilling still says he is innocent, even after a jury found him guilty on 19 counts of fraud.  I am sorry.  If you cannot admit your mistakes, I don’t feel sorry for you Mr. Skilling.  That is my take.  What is your opinion?