Oil prices are STILL on the move up, without an obvious end in sight.
In case you haven’t heard, the Alaskan oil pipeline just broke. Eight percent of the nation’s oil supply is now cut off. It only took a four percent hit to cause the energy crisis during the 70’s.
We have to find a way for energy other than oil. Let me amend that last sentence, we have to implement an energy source other than oil.
While it really wouldn’t end any oil dependency that America has, what about the coal-to-oil idea? It becomes profitable when crude reaches $35-$40 per barrel. We’ve got ethanol, biodiesel, and who knows what else is out there. So where is the next Rockefeller and what is the hold up?
There is a fortune to be made by whoever implements a solution for energy. I have a feeling that it’s going to be a young company that will tackle this. The only questions are when and what company? Who is going to be the Google of energy?
A couple weeks ago I wrote an article about why gas is cheap at $3.00 a gallon. Then when the article was linked to by another site, the person basically said that I must have invested in crude futures. While I hadn’t at the time and still haven’t done so, it might not such a bad idea.
The governor of Montana is really pushing the coal idea. Guess what state holds abundant coal?
Yet I don’t understand why we are taking one natural resource that pollutes and replacing it with ANOTHER natural resource that pollutes. A better solution must exist.
August 8th, 2006 | #
only issue is that oil prices moved down today…USO
August 9th, 2006 | #
Sure they moved down, but what is 40 cents when it jumped up $2.00 a couple days ago.
I’m just saying that high oil prices are here to stay. It may fluxuate somewhat, but I don’t think it’s going to come down very much.
There is only a limited amount of it in the world which is going to start affecting supply and demand.
Nobody has enough of what everyone wants.
August 9th, 2006 | #