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<< Higher oil prices will simply drive us towards alternate sources of oil. It's a sure bet, when they went to 35 a barrel a while ago big money started to push into other markets. At those prices renewables and even ethanol become cost effective so if they really wanna push us to end our dependence on oil then raise to prices. After we end our dependence on oil the middle east will become a blip in the history of the world. They will be forced to return to their nomadic roots and desperate proverty because they have no industry, no capital and no real value to provide the rest of the world. >>
I know this is mean but... I can't wait for that to happen. Unfortunately, it wont any time soon. Even if the US becomes non-dependant on ME oil, most third world countries will still be buying it for decades. >>
True enough. It's not as though technology that uses alternate energy sources is going to trickle down very quickly. And when it does, it'll probably still be cost prohibitive.