So you wish to compare a non-renewable commodity like oil, to a precious metal that doesn't rust, degrade, or disappear, of which almost the entire amount EVER EXTRACTED still exists? Especially when oil is currently indispensable to our economy, while Gold is not?
And I don't know of too many nations that can produce oil at the price you state. Saudi Arabia and the Persian Gulf producers are the only ones who may be able to produce at costs of $2/barrel.
When gold becomes an indispensable commodity, then I might find a reason to believe it justifies a higher cost.
Until then, it certainly justifies no higher price different from the cost of producing silver, which has far greater industrial utility.
Just my opinion..
Btw, give me 1/2 the amount of money that has EVER been invested in the petroleum industry and dedicate that to hydrogen production, and I'll give you your energy source priced less than oil.
And it won't pollute, nor require us to import it. Or be held hostage to securing and protecting it.
Regards,
Ron |
