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


To: Brumar89 who wrote (6120)3/13/2009 1:39:10 PM
From: RetiredNow  Read Replies (1) | Respond to of 86350
 
Wrong. If you reduce demand to domestic product, then that will have a dramatic impact on world oil demand and there would be a multiplier effect, given that other Western countries would probably follow our lead. That means oil companies will invest far fewer dollars in oil exploration, which means fewer oil jobs and capital expenditures, which is precisely what is meant by oil industry withering.