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Non-Tech : Alternative energy

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To: deeno who wrote (2912)	4/22/2006 12:18:40 PM
From: Rock_nj	Read Replies (1) of 16955

OIL inventories hit 8 YEAR highs I know, I was just reading some of those charts last night. The problem is that only tells half of the story. The U.S. can stockpile all the oil we want, but if other countries are consuming more and more oil each year it's going to drive the price up. That is exactly why oil has been increasing in price as our inventories are bursting at the seams. The demand in China and India is driving the price up on world markets and that stockpiled oil is costing a lot to accumulate. If we had segregated markets, perhaps the U.S. would be seeing a reprive from high oil prices, due to our high stockpiles. However, it is a world oil market, our stockpiles mean little in this equation as other countries scramble for oil. Another thing that is probably happening is that countries that used to export oil, such as Indonesia, are suddently importing it instead. Demand for oil is increasing. I doubt we will actually see $5.00/gallon gasoline this year. But, if economic growth continues worldwide, the demand pressure might put us in that range by the end of this decade.

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