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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: MulhollandDrive who wrote (2192)	3/16/2004 1:46:03 PM
From: excardog	Respond to of 116555

<<for example if we see oil prices held artificially high by supply constraints, the drive for alternative energy (and the perceived future profitability) takes hold and the next thing we know we're talking about the next big thing, renewables...the "scarcity" of oil at some point become moot..a self limiting scarcity resulting from innovation...>> One other point that seem's to be overlooked is that conservation will start to take hold in the use of energy with high prices. I would imagine we are at or near this point right now. It will be interesting to watch gasoline usage as we head into summer driving season. A very smart oil poster who no longer shows up on SI is quoted as saying "the cure for high prices is high prices" It's worked every time so far. IMO