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Strategies & Market Trends : Ask Vendit Off-Topic Questions

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To: Walkingshadow who wrote (7359)	4/5/2005 12:33:21 PM
From: KLP	of 8752

Well said, Terry! You are precisely correct, IMO. Pumping more oil is not the answer for several reasons. First, world refining is within 90%+ of peak capacity, probably closer to 100%. Nobody seems to want to build more refining capacity, and certainly in the U.S. there is a very clear "put a refinery anywhere you like, just make sure it's nowhere near my backyard" mentality that is ubiquitous. Second, demand continues to increase, and in less than half a century there will likely be little oil left, and what remains will be prohibitively priced. It is just flat irresponsible to wait 50 years to proceed towards a petroleum-free economy that will be forced upon the world whether we choose to see it coming or not.

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