Quote:
Originally Posted by jyl
And consumption will grow, for many years to come. The economic development of China, India, and other emerging countries practically guarantees it.
But we really need to get committed to it, because it will be a long road. Better to make good solid progress before oil is $150, $200, $300, etc rather than waiting until then to get serious.
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I am not convinced that China and India will grow at the current pace...their economies are wholly dependent on oil for the cheap manufacture of goods and the transporation of end items to the world market. The price of their goods will increase just as many consumers are altering their spending habits due to the higher price of gas, heating oil, foods, etc.
No economy, except those that produce oil in surplus, is immune.
Your last comment is spot on...that is change I can believe in
