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Non-Tech : Alternative energy -- Ignore unavailable to you. Want to Upgrade?

To: FJB who wrote (3550)	1/11/2007 12:40:47 PM
From: Rock_nj	Read Replies (1) \| Respond to of 16955

A couple of wars in the Middle East and a madman running Iran would have no impact on the price of oil? Oil does not trade like a textbook commodity. I understand that oil is highly politicized, but the poltical premium is estimated at $10 to $15 at the most. A tripling in price indicates a reduction in supply, which is also supported by the supply/demand data. We have not reached the peak point where supply cannot keep up with demand, but when we do we will see the price of oil rise dramatically until either people stop using it or change to alternatives (perhaps more expensive oil like oil shale). We are estimated to need 125 Million Barrels of Oil per day by 2030. Do you really think we can produce that much? Given the declining oil discoveries for two decades, I don't. However, we could learn how to use oil a lot more efficient though. Plug-in hybrids and biofuels could drmatically lessen our need for petroleum.