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

To: TimF who wrote (338)	6/17/2008 4:11:05 PM
From: Road Walker	Read Replies (1) \| Respond to of 86355

The world isn't moving to a different solution except over a long time frame, not months, not years, not even a few decades, maybe in half a century or more. Probably a decade before a significant percentage is alternatives, but the use of gasoline will become much more efficient during that time frame. It better, or we are in big trouble. If they can get oil for say $25/barrel (assuming its off shore they can make a lot more on it than if they have to pay the world price (over $130/barrel) for it. And yes they might not get the oil in quantity for 10 years, but they should still have a market for it for decades after that. But at what price? The upfront cost of deep ocean drilling is huge. There has to be a very long, and certain payoff. Oil execs have to be asking themselves "are we investing in typewriter manufacturing at the start of the computer age?". I would be asking myself that question if I were in their position.