Re: Oil economics
Oh ya, lets put price controls on oil. don't any of you have any memory of the pinhead attempt before.
High prices at the pump only encourages research and development of other sources of fuel, the oil futures control the price now, but as soon as some copetition comes in to play, the situation will change.
All you libs that have been crying for other bio-fuels and such don't realize that the market controls if and when real research and development will come. Keep the price up, and oil shale and other deposits here in Utah and Colorado will become viable and profitable. You will see a difference in the future of where we get crude, price will still be at market rate which is still yet unknown when other resources come around.
It could also even spur research to non oil fuels to the point of actual production and use. Yes, I am aware that this is going on is a very small sense, but these high prices could create other better quality fuels.
Even those oil ministers in the Middle East understand this market force, it will be very interesting to see what the future will bring.
Spud