Interesting article on the future cost of oil.

mammasan

http://money.cnn.com/2008/06/06/news/economy/tully_oil_bust.fortune/index.htm?cnn=yes

cincybearcat

Thanks for that...interesting read, and it makes sense. Everyone will want their piece of the $ pie, and the increased supply will lower prices...I can see the gov't using the once high prices and then a drop in order ot raise taxes without much attention from consumers though.

mammasan

cincybearcat wrote:

Thanks for that...interesting read, and it makes sense. Everyone will want their piece of the $ pie, and the increased supply will lower prices...I can see the gov't using the once high prices and then a drop in order ot raise taxes without much attention from consumers though.

It definitely was an interesting read and I am hopeful that the skyrocketing prices are a product of the huge profits and everyone jumping in to get a piece of the pie. I don't thin our economy can handle high sustained prices for too long.

cincybearcat

mammasan wrote:

It definitely was an interesting read and I am hopeful that the skyrocketing prices are a product of the huge profits and everyone jumping in to get a piece of the pie. I don't thin our economy can handle high sustained prices for too long.

I agree...I hope the article is right on target.

Pacomc79

The keys to this article happening though tend to depend on the governmental environment and how free it is to seek and develop new sources and then the companies willingness to do so. If the tax structure sucks, they simply aren't going to do it. If the government gets involved forget safety, and forget getting a handle on corruption with virtually no audit.

Basically the ball is in our court right now to conserve and outlast the high prices for long enough to basically force their hand into development to lessen the price of energy.