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Politics : Politics for Pros- moderated

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To: LindyBill who wrote (48524)	6/3/2004 3:40:10 PM
From: carranza2	Read Replies (1) of 793958

Our present gas prices have more basis from our refusal to allow refineries to be built, and the special gas mixes demanded, that it does from any shortage of oil. There are lots of refineries elsewhere, in places where they are a lot cheaper to build. According to one source, the present price of oil carries about an $8 terrorism premium. The age of cheap oil will be over in about 5 years, when it will be horribly expensive. When the wolf is at the door is when the massive effort necessary to develop alternative sources will be made, not a minute sooner. It will be disruptive, it will be tough, but it won't be the end of the world. And there will be tons of investment opportunities. We will have political conflicts with the Chinese over oil. They will be a lot more dependent on cheap oil than we are. It's going to be a very interesting decade.

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