so, oil prices are back up?
$68.75 per barrel?
isn’t that roughly where they were last summer?
the good side of high oil prices is that it makes people less inclined to buy suv’s and more inclined to look seriously at high mpg vehicles.
it also encourages conservation, and investment and r&d into alternative energy sources.
so, ironically, whereas high oil prices help the oil companies to post record profits, high oil prices also help to curb peoples appetites for oil and to spur the development of sustainable energy sources.
apparently, and not surprisingly, opec weren’t too thrilled with gw’s comment about america needing to break it’s ‘addiction to foreign oil.’
i really do wonder what’s going to happen in 30 years when the worlds oil reserves start to dwindle.
don’t get me wrong, there’s a lot of oil, especially under saudi arabia. but as reserves start to dwindle prices will continue to rise and the world will start to change, even with new technologies that enable oil companies to extract more oil from previously moribund wells.
and it’s safe to predict that the future will be rife with even more ‘oil imperialism’.
the war in iraq is oil imperialism with a benign-ish face.
i think that at some point the g8 countries will be less subtle, and will probably invade countries without any pretext other than that they need their oil.
i can’t imagine china, for example, invading an oil rich country and saying that their reasons were humanitarian and democratic.
eh, that’s just my opinion.
moby
