Monday, June 23, 2008

Book Review: Rich Dad's Guide to Investing

In the coming weeks, we will review and discuss with you, our blog readers, the third book in the Rich Dad series, Rich Dad's Guide to Investing.

We reviewed Rich Dad's Cashflow Quadrant, the second book in the Rich Dad series, very briefly.
:: View it here

With Rich Dad's Guide to Investing, we will cover 4 chapters per week hoping to stimulate comments and create an online study of this powerful book for new business owners, seasoned entrepreneurs, and those seeking a better life.

Wednesday, June 18, 2008

Drilling Ban to be Lifted???

President Bush is asking Congress to release the ban on drilling on the Continental Shelf to increase domestic oil supply.

I contacted my U.S. Representative's office today and found the Don Cazayoux supports the lifting of the ban. He feels that this will increase jobs in Louisiana and assist the nation in reducing the price of fuel across the country.

Senator Mary Landrieu (D) supports the lifting of the ban, but has odd verbage on her release (http://landrieu.senate.gov/~landrieu/releases/08/2008618540.html) about incentivising coastal states/companies. Senator Landrieu, I appreciate your dedication to our coastal state, but do not hold up drilling to help LA, continue on to help our entire nation. Even a 2 year lift or a specific number of platforms authorized a year would be better to work out the details you want while allowing immediate relief at the pump!!!

Senator David Vitter (R) also supports the lifting of the ban. “Let’s empower each state to decide what is right for its coast and its energy needs, instead of allowing a slim majority of strict environmentalist policymakers to decide for them," states the Senator in a press release. He also has introduced the ENOUGH Act which would empower state governors to take action. I believe that this is very wise - it reduces mass control of the country's energy supply and puts it into the hand's of 50 territorial leaders.

What will the lifing of this ban do to America? By increasing the supply of domestic oil, we can deflate the price of fuel AND rely less on foreign oil. I heard on talk radio the other week that 40% (or 60% can't remember) of our oil supply is domestic. I also recall that we have many offshore and onshore supplies that Congress will not allow us to tap. Why is this a good idea? Why is this not a good idea?