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Strategies & Market Trends : Value Investing
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To: Grommit who wrote (18388)1/10/2004 12:57:35 AM
From: Spekulatius  Read Replies (1) of 78490
 
re Energy -
I have heard this argument that the energy crisis is looming since the Club or Rome book was published in the early 70's. I would not make any investment decisions based on the prediction that the world is running out of hydrocarbons and such - as you know we have been through several boom and bust with respect to energy prices during the last 30 years. Right now, we are in the boom of course but will it stay there? The energy consumption is not very elastic with respect to price short term but very elastic long term. So rather than a period of high oil prices coming for a long time, i would predict that the system adjusts and energy consumption is is reduced or new sources will be developed such that the system adjusts itself. I think this is a much more likely scenario than constantly increasing energy costs.
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