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Politics : Foreign Affairs Discussion Group
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To: Ichy Smith who wrote (198756)8/23/2006 1:43:27 PM
From: michael97123  Read Replies (1) of 281500
 
What about the oil is fungible argument. If one of our former suppliers in your scenario cuts production, their new customers will come to britain, canada etc and bid prices up. We need three things to happen.
1. world wide conservation.
2. World wide exploration committment
3. World wide committment to alternate renewable energy.
Even if there is just modest work in all three, there will be significant results. Oil prices are on the verge of a fall, but it needs a trigger. No hurricanes would be nice too.
And the iran threat wilts if any or all of this happens because they are living high off the $70 oil hog.
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