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Politics : Formerly About Advanced Micro Devices
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To: Road Walker who wrote (172744)7/28/2003 8:59:14 PM
From: i-node  Read Replies (1) of 1577189
 
oil consumption is rising faster than new <cheap> oil is becoming available. It's a death spiral as far as oil prices and the world economy is concerned. We haven't done sh-t to develope alternate resources.

This is nonsense. The oil supply is adequate and will be. Forever. Ten years, maybe fifteen, from now, the Middle East has a huge problem on its hands because demand for the life blood of these dictatorships will be declining. Only a five percent drop in US consumption will result in a worldwide oil glut, the scope of which will totally disrupt the economies of the Middle East. And within the coming 10-15 years we could well see this kind of reduction in consumption.

Oil is a commodity, and as such, "supply and demand" are meaningful only in a global sense. A certain amount of oil is needed, and that amount will ALWAYS be produced. What you don't seem to understand is that oil is the life blood of the Middle Eastern monarchies/dicatatorships. The less oil they sell, the less able they are to control the people in their countries.

As alternative sources come into existence over the next 15 years or so, the glut of oil is going to put tremendous pressure on the Middle East. Add to that the horrible feuds that are going to be occuring in the region over water rights, and you have the makings of a regional conflict that will make these little squabbles over Saddam look like neighborhood rock fights.

That conflict has little to do with the United States.
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