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  • From: Rob <becida AT comcast.net>
  • To: homestead AT lists.ibiblio.org
  • Subject: Re: [Homestead] Oil prices
  • Date: Thu, 18 Oct 2007 20:41:38 -0700

At 10/18/2007 07:41 PM,Clansgian AT wmconnect.com wrote:


>(Gene)Seems to me that OPEC will move to restrain accelerating prices to
dissuade accelerated research into alternative energy sources.

IF they could. However if OPEC is at near peak capacity now, as some
suggest, they can't significanly increase production and therefore have no power to
restrain anything. Not only that, OPEC knows full well that all the alternate
energy in the world doesn't add up to a tiny fraction of the oil used each day.

I couldn't find any 'new' numbers on the OPEC capacity, a year and a half old is the best I could find but I think you are right about OPEC being able to do anything about the supply these days.

Gene used the (key) word "research". There may not be enough alternative energy today but if oil based energy costs enough alternative sources will become more affordable.

http://news.excite.com/news/r/000624/19/energy-britain-yamani
Updated 7:19 PM ET June 24, 2000
Ex-Saudi Oil Minister Yamani predicts oil crash
>The Stone Age came to an end not because we had a lack of stones, and the oil age will come to an end not because we have a lack of oil," Yamani was quoted as saying. <

The days of 'cheap' energy are over...



Rob
becida AT comcast.net




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