Dan McTeaque is a loud-mouth know-nothing.

daniel on Apr 29th 2008

I just wanted to make that clear.

From the “50 Cent ban” to today’s ineffectual political posturing on oil prices, I think he’s proven he doesn’t understand the economy or free markets, nor should he be talking about them. Add to that the fact that his copyright positions — rather important for someone who may end up being Sam Bulte’s successor — are nothing more than slightly tweaked talking points drawn directly from American copyright interests. He not only does not seem to understand real, physical economies, but also seems to have missed the boat on intellectual property as well. (And being from his rather chequered political party, it wouldn’t surprise me if he were actually on their payroll.)

That said, Mr McTeague, what solution do you have to record oil prices and record oil profits? Do you have anything constructive to say other than a lot of sound-byte-grabbing hand-wringing? Any suggestions? Do you want to regulate the fuel market more? Or less? Reduce taxes? Make production easier? Keep more oil in Canada? Build refineries? Wean Canada off its absolute dependence on oil? Invest in alternative fuels and energy sources? Give grants to companies building greener cars? Fast-track greener cars so they can get on the road before we all die? Anything?

Nope. Just moaning. It sounds good, and we’re all doing it, but really, this is how the market works. If there really isn’t any reason for oil prices to rise (though there is) other than “unnecessary speculation”, you tell me how to stop that speculation. Give me a plan.

Prices are being driven up by speculation, yes. They always are. This isn’t some new phenomenon that became a bugbear yesterday. But prices are also rising because demand is rising. China, anyone? India? It’s not idle speculation. There is so very much demand and future demand right now. And when prices go up, oil company profits go up for a while and then level off as the price of crude reaches some equilibrium. This is a historical trend. It will happen this time like it always has, but will you hear Dan McTeague saying, “Oh, okay, it’s alright if you only make $400 million. That’s fine. We’re good with that.” Of course not.

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4 Responses to “Dan McTeaque is a loud-mouth know-nothing.”

  1. # R Rennieon 16 Jun 2008 at 9:03 pm

    He may be loudmouthed but at least he is concerned for the little guy. It’s people like ypo that know everything. We stupid people know a thing or two about markets, corporate profits and so on. Now that you have set we poor ignoant slobs straight whats. How about creating a domestic pricing system and putting a cap on exporting our natural rescources and creating once more an multi year oil reserve plan. I understand that we once did until big oil and weak government got a hold of our economy. Remember that our democratically electer government runs our country not the corporate sector. Incidentely I also believe that we are the seventh largest oil producer in the world so how’s that grab you. Price controlls are another weapon that we have against the speclative world market but one that will not be used because our governments dont have the balls to do the moral and courageous thing. So I will just get on my good old horse and ride off into the sunset before the speculators cause the price of a bale of hay to go out of sight. Nice talking to you and you have a nice day now

  2. # danielon 17 Jun 2008 at 8:51 am

    He’s looking out for the little guy’s vote, I think you’ll find. But that’s okay.

    You don’t want to control a speculative world market. You can’t do it. It doesn’t work.

    High oil prices are also good for Canada’s future: We need to invest in alternatives. Everyone knows it. High oil prices provide the impetus.

    But my problem with McTeague wasn’t that he was proposing bad plans (as politicians are wont to do) but that he was proposing no plan at all. You have at least brought up a bunch of ideas. So good job.

  3. # R Rennieon 18 Jun 2008 at 4:03 pm

    Well Daniel I agree that controling a speculative market would be dificult but I believe not impossible. Be that as it may be it does not alter the fact that we could get along quite nicely without the overrated influence of a greedy and out of control market place. I agree that our dependance on petro chem products must be replaced by a cleaner susbtitue but what? The search for such a product must continue and high pricing for oil is for sure a deterent but at what immediate cost to our society especialy our younger generation. Until a substitute can be found we must raen in the greedy corporate sector and an out of control speculative market. I would suggest ( heavens to Bettsy) price controls as start. There are no doubt other alternatives but it takes a dedicated that this old mind could not think of but others should. It takes a dynamic government to protect we citizens from this blind rush to demolition. If only the axis powers in the fortys had thought of this approach we would br goose stepping all over the place. There, ive said it as best I can so have a nice day and cheer up we will be ok, ahmen!!!

  4. # R Rennieon 18 Jun 2008 at 4:06 pm

    Daniel please excuse the spelling in the previous message as this damned machine seems to have a mind of it’s own.
    Cheers
    Ross

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