Peak oil should be causing everyone in this country to lose sleep.
People should understand declining oil production and vote for the Democrats who WILL get us on the path to alternative energy. Right-wingers should be looking at peak oil and bombarding their elected officials with demands to prepare this country.
Not only is alternative energy technology becoming more feasible all the time with oil at these price levels, we have no choice.
Even with our own personal Iraqi oil well, we're still going to run out of oil.
As an investor, I hate what the Bushies are doing to our competitiveness in the ME. We are not liked in that part of the world, and the oil-producing nations have choices other than our oil and oil service companies.
I have owned Exxon for many years. Apparently they have reached an agreement with our former enemy, Libya, and will be drilling off shore in Libyan waters. This is great but probably not huge.
The real prize would be Iran, but our silly meddling in that country for the last 50 years has brought nothing but instability and resentment. The oil and natural gas concessions that we could have secured if we'd been less greedy years ago when oil was cheap are now going to Russian,
Chinese, and (I think) French companies.
The only instability to oil flow in that region is us.
Outside of Iraq, the rest of the oil producers are busy establishing commerce and trade agreements that will bind them together. You might call it 'mutually assured construction' as opposed to 'mutually assured destruction'.
You folks worry about war all the time. Well, we're at war and we may be losing. It's a war fought with yen, rubles, yuan and reals. |
