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Politics : Sioux Nation -- Ignore unavailable to you. Want to Upgrade?

To: stockman_scott who wrote (55432)	1/19/2006 9:39:34 PM
From: Rock_nj	Read Replies (2) \| Respond to of 362638

The Saudis are being optomistic, trying to stave off a conversion to a new energy source besides oil. There is only ONE THING that really tells you how much of a commodity is actually left (the scarcity) and that is price. The easiest way to cut through all the BS about the availability of oil and peak oil is to look at the price, that is reality. If oil were still abundent, it would be selling around $10 barrel like it was in 1998. $65/barrel oil and a long term chart on a long rise, tells us by simple laws of supply and demand that oil is reaching a peak and growing more scarce. Who actually thinks the oil producers will be able to keep up with growing oil demand? Not going to happen with China and India using more and more oil each year; what will happen is we will grow more efficient in our use of oil out of necessity as the price rises. Notice how many car commericals these days are pushing their gas mileage of their cars, even luxury cars? Coincidence? No. It's time to finally put our technology to work and run our economy more efficiently.