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Strategies & Market Trends : Heinz Blasnik- Views You Can Use -- Ignore unavailable to you. Want to Upgrade?

To: philv who wrote (2608)	6/24/2003 12:10:22 PM
From: GraceZ	Respond to of 4907

Everything we produce has an oil component. This is true. The importance of oil cannot be overstated. Its a dumb commodity which is entirely useless without the technology to put it to work. To understand why I say this compare those countries which are oil rich with those that aren't. One could make the argument having plentiful supplies of oil is more of a curse than a blessing. A commodity based economy never has to develop some other way to make money therefore they tend to be technologically backward with the wealth narrowly held while the majority of the people live in relative poverty. If oil didn't exist we'd power machines some other way. It is technology which has allowed us to live a high standard of living not cheap oil. The industrial age was well under way before oil was in wide use. Three hundred years from now kids will have to read about the age of oil the way that we had to read about the age of steam.

To: philv who wrote (2608)	6/24/2003 5:49:10 PM
From: benwood	Read Replies (1) \| Respond to of 4907

The lower middle class in the US has had a declining standard of living for about 25 years now, maybe 30. I expect that decline to accelerate in the next 10 years. My parents, who are below that level, are encountering huge water, sewer, and electricity hikes right now, with the explanation from their public utility that it only amounts to "3% of the median income for Washington State." Well... 3% would be before tax, so that's about 5% after tax. Trouble is, my parents live in a town where the median is about 1/2 of Washington State, so the average burden is going to be 10% or so for them. My parents are below average for even that area, so it works out to a good 15-20% for them. Their home will simply get colder and colder each winter.