Oil's superspike may make telecommuting the norm

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Some corrections

One, we are finding oil continually. Brazil just found a few
billion barrels a month ago.

Two. What was hard ten years ago is easy today because
technology advances.

Three, Quite a bit of oil is artificially locked away,
particularly in the United states. Current estimates are that
U.S. environmental policies have artificially locked away
112 billion barrels of known, easily recoverable reserves.

Four. OIl shale and coal can be converted to oil at a cost of
about $80 a barrel. We aren't currently doing that because
of environmental regulations. The United States has the
largest coal reserves in the world, sufficient to provide the
entire electrical needs of the nation for about 200 years.

Conclusion: Rising oil prices are largely the result of
artificial shortages induced by government interference in
production.

Posted by: frgough   Posted on: 05/09/08 You are currently: a Guest | Members login | Terms of Use

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