05-29-2008, 08:36 PM
Quote:The really big reason that the prices are going up is that the supply has been held pretty constant for the last 20 years or so, but the demand has tripled, and now with China and India coming on board as motor-driven economies, it will only increase the demand.
There is more oil than is being brought up. It's laws that keep it in the ground, not the businessmen.
We need to be careful here, though, brothers, because we could easily and quickly stray into modern politics, etc. and get ourselves in trouble.
This is true. There is a lot of oil off of the coast of Florida and in Alaska, but environmentalists in America have stifled energy production have close to three years--not just with oil, but also nuclear energy. The governor of Alaska is practically begging businesses to dig new wells in the northern corner of ANWR (the area was actually specifically set aside for oil exploration). I read there is as much oil in reserve under ANWR as Venezuela or Saudi Arabia. The politics of doing something potentially damaging to the environment always outweighs failing to act and damaging the economy in America. America has the ability to ween itself from its dependence on other nations for oil, but I don't think Europe is. Sucks for you guys.
Ethan Gruber
