The Epic American Credit and Bond Bubble Laboratory Message Board

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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: glenn_a who wrote (96298)	8/15/2008 12:10:37 PM
From: GST	Read Replies (1) of 110194

The main stumbling block to innovation and a rapid transition away from oil is that oil is dirt cheap. As oil prices soar we can and will innovate. The stupidity of US policy has been to assume that the goal of energy policy should be "cheap" oil. Give me $200 a barrel and a $10 gallon of gas in the US and the US economy will enjoy a massive innovation boom -- one that is hugely beneficial for society and hugely profitable for those who lead the way. Cheap oil is about as beneficial as cheap heroin.

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