Originally posted by: Stunt
Originally posted by: dmcowen674
Originally posted by: Stunt
I defend big oil...people's hate is totally misdirected...
Tell us how many shares in Big Oil you own.
Originally posted by: catnap1972
Chaneling Stossel again? Lemme guess, if people can't afford $20 for a gallon of gas or oil, fsck em? :roll:
Our economy has prospered significantly with the expansion of cheap, reliable fuel. It was known from the start oil wouldn't last forever; hell didn't they call for end of oil in 20 years like 40 years ago?
I'm a firm believer that this time oil consumption will far exceed production even with extensive exploration efforts. Fact of the matter is, we as a society will need to innovate to survive, just as we did with agriculture...developing new technology will allow us to sustain our way of life for the next couple centuries.
Government mandated low energy costs will just encourage more wasteful consumption, no alternative fuel sources and back to the same old way of life that got us here to begin with. Sure the profits of oil companies are huge, but when you consider the shear volume and rarity of their product; these profits are not out of the norm. Software, healthcare, pharma, military, almost every industry has higher profit margins than oil companies. Fortunately these companies are digging their own grave; the higher the prices, the less people consume, the more people adapt to accomodate their new environment.
In the end I find it strange that liberals are against big oil for their high prices, yet advocate alternate fuels like wind and solar. I will tell you right now the ONLY way these technologies will get developed is if the price of oil increases. Not only will you have the ethical people on your side, but the economists, finacial people...a beautiful thing for an environmentalist.
In the end this will be the next frontier of growth; the energy revolution...just as the world wars have simulated our economies in the past, this will give us a little hit on the short term, but turn into something we cannot afford as a society to delay. Also, you act as though energy is only affecting the US economy; fact of the matter is, of all the nations in the world;
the US is in the best position to bid the highest price for this limited resource.