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This announcement suggests that O.P.E.C. and the other oil producing countries who had visions of being a washed in dollars from the future escalation in oil prices well beyond the 2008 summer price of 147 dollars per barrel committed the mortal sin of driving prices beyond the point of diminishing returns. It is general understood that if a product becomes overpriced in the marketplace it will draw in substitute products. Hence, bio-fuels are now legitimate energy sources with President Barack Obama being the catalyst to cause a rapid market penetration of this product. Are "alternative fuels" evolutions from lip service to viable products morphing into real market competitors for O.P.E.C. in the global energy marketplace?
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BP Jumps Into Next-Generation Biofuels With Plans to Build Florida Refinery
News Type: Opinion — Seeded on Thu Feb 19, 2009 9:00 PM EST
Article Source: Wall Street Journal
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It is getting more and more difficult to tell weather the problem is big oil or the Middle East Producers. It seems big oil just tacks on whatever they must to make a profit. They enjoy a burst of prices to higher levels because it camouflages what it really going on. And so as long as we keep feeding the Middle East with dollars for oil aren't we basically cutting our own throats. Instead of the war against the west there need be a war inside their own borders by themselves. And without oil money even Russia couldn't afford to keep it all going. The handwriting is on the wall. It says alternative energy. America being able to be in control of her own destiny. And a note to all of the green people out there. In order to have cleaner air there must be some sacrifice. Wind power needs land or ocean. Isn't that right Senator Kennedy? So sacrifice now so we may have a LATER.
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#1 - Sun Feb 22, 2009 1:11 PM EST{"canLink":false,"threadId":"508466","isPrivate":false}
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