| Yep. Lower worldwide reserves plus increased worldwide demand is a bad recipe. One good thing though is that if these prices continue to go higher and then stay high, like $80 or so, then I'll bet within 5 years of that, you'll have some gas-based cars on the market that get 100 to 150 miles to the gallon. In addition, we'll have fuel-cell vehicles and a whole new breed of electric cars that look and feel like normal sedans. So although, short term, high oil prices are bad, they may be just want we all needed to kick the oil habit. Plus, it will be good for the environment too. I personally believe that even if we had an Al Gore as President, who would have focused on reducing consumption and on alternatives, the world would have still been headed towards permanently high oil prices. I believe this, because like you, I believe that if not already, we will be soon depleting the world's oil supply faster than we can find oil reserves to replace them. So I think we are living in very interesting times. It will be fun to watch what happens over the next couple of decades. Hopefully, it won't be ruinous to my retirement account. |
