I think there are few things that could be better for the future of this
planet than high petro prices. Cheap oil has created an unsustainable
level of consumption in the U.S. in many different forms, and for so long
depressed the commercialization of alternative energy sources, which could
become cheaper than oil and coal if implemented at scale and given
sufficient time.
Rising demand is causing some of the pressure on oil, but it's not sucking
the oil out of the ground that is the bottleneck, but (IMHO) refining
capacity. If a seller only has 8 of a thing but demand is 9, and the
people who want 9 of them really really want 9 (and would prefer 10),
prices will go up substantially even if the delta between supply and
demand is small. What's going on now is we're really just finding out
what the elasticity curve of oil is; at what price will consumer behavior
change, will corporate behavior change, will government policies change.
My opinion, I would much rather be hitting this curve due to refining
capacity than to declines in the amount of oil being pulled out of the
ground. If we could refine all we could pull, then total reserves would
decline that much more quickly, and the wall we would hit (when oil really
does start to run out) would be much sharper than it would be if prices
crept up slowly from here on out, giving us a generation or two to switch
to alternatives rather than just a few years.
4. The future markets based in US & Europe (controlled
by Rich Jews) is deliberately playing the markets to
increase the price to infuritate the western world to
attack middle-east as they succeded in doing in Iraq
in 2003 at a much lower price level. Meanwhile they
are gaining everyday in a bull market controlled by
them (50%- most logical conspiracy theory)
I've generally enjoyed the conversations on this list about cultures and
ethnicities, I've found them to be intelligent and frank while being
respectful. The above is a rare exception.
Brian
