> RoMunn wrote: > I read that BP profits were way down last Q. What's happening with oil is fairly simple in the big picture: for the first time in history both oil supply and refining capacity are past peak.
In the past both of those markets have always had a buffer - they no longer do. Demand now exceeds supply. And it will only continue to get worse. > I would much rather have gas stay this price and force our country to > develop alternative fuels. Then we could tell shithole governments like Iran > and Venezuela to go screw. > I totally agree and we're going to get our wish (see above). But don't forget what that Saudi prince famously said in the 70s: "the stone age did not end for lack of stone, and the oil age will not end for lack of oil." What he meant was that new technologies would eventually replace oil and if Saudi Arabia wanted to keep rolling in the dough, they needed to invest their oil profits in alternative energy. Did they? Are they? Who knows. But don't be surprised if they pull a hydrogen rabbit out of a hat one day. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Message: http://www.houseoffusion.com/lists.cfm/link=i:5:205564 Archives: http://www.houseoffusion.com/cf_lists/threads.cfm/5 Subscription: http://www.houseoffusion.com/lists.cfm/link=s:5 Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=89.70.5 Donations & Support: http://www.houseoffusion.com/tiny.cfm/54
