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Politics : Politics of Energy -- Ignore unavailable to you. Want to Upgrade?

To: TimF who wrote (319)	6/15/2008 9:13:41 AM
From: Road Walker	Read Replies (1) \| Respond to of 86355

They may have record profits, but the incentive to drill, when a good deposit is found, is to get even larger profits. And that incentive increases as prices go up. Not if the presumption is that the world is moving to a different solution. Oil drilling only makes sense as a long term investment. I suspect that the oil companies are saying to themselves "the world is going to move to electric vehicles and that will eventually cut the hell out of our business... so let's milk the transition for as many profit $'s as possible". Would you invest (long term) $Billions if it looked like the marketplace was moving in a different direction?