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Strategies & Market Trends : Bob Brinker: Market Savant & Radio Host -- Ignore unavailable to you. Want to Upgrade?

To: InvesTing who wrote (37709)	8/6/2008 9:09:58 PM
From: sea_biscuit	Read Replies (1) \| Respond to of 42834

.... that is 1.2-1.5 million barrels a day, One hell of a lot more energy than wind solar and ethanol put together for the forseeable future. And one hell of a lot less energy than what is required to stay away from those wicked Arabs! On top of that, let's not forget that (a) the supergiant oilfields are in depletion (b) oil demand from the Asian giants, China and India, are going to rise relentlessly and (c) the oil from offshore sites and ANWR would be sold in the international markets since US does not have nationalized oil companies like Saudi Arabia, Iran, Venezuela et al do. As for ethanol, it is a boondoggle by the current administration to the farm lobby in the hope of getting votes. And as for wind and solar, why are we at such low levels of utilization compared to countries like Germany whose average sunshine levels are below that of almost the entire continental US? I have nothing against nuclear power - if there are any insurance companies willing to pay huge amounts in damages in case there are any accidents. Let the market decide! As for exploiting tar sands, it needs lots of natural gas AND lots of water. We will be literally squeezing tons of soil to get a few cups of oil. Do we want to get that hopelessly addicted?