> From: Geoff Pullinger via EV <[email protected]> >> > I'm pretty sure > that the current political structure of the US will find another source > of oil somewhere in the world.
Or, as Colin Campbell put it, "An economist is someone who believes that if you show up at the cashiers cage with enough money, God will put more oil in the ground." Right now, the only thing keeping the US afloat is that oil is priced in dollars. Some say that's what the invasion of Iraq was over, that they wanted to price their oil in other currencies. Russia and China are consorting at this moment to price oil in other currencies -- some claim that's what the Ukraine crisis is all about. When (not "if") the US$ loses its reserve currency status, the "current political structure" will be out of cards to pay. The US has been printing $80,000,000,000 PER MONTH recently. Where is that money going? Not in your pocket! Not in my pocket! It's been going into propping up the shale oil industry, which is totally underwater, debt-wise. Some estimates are that Bakken Crude costs -- COSTS -- $120/barrel to produce, selling into a market that can barely support $100/barrel. The Fed is creating money to cover the shortfall, and it can only get away with this because almost anyone in the world who wants oil needs to come up with US$ to get it. If something cannot continue, it eventually will not. Coming soon to a civilization near you! Requisite on-topic content: it may well be that, not too long from now, the ONLY people driving will be using electric cars! :::: There's so much to be done, and just so much time to do it. Nature somehow apportions the energy to get it done, and when we know what we are doing we do pretty much the same thing. -- Hal Borland :::: Jan Steinman, EcoReality Co-op :::: _______________________________________________ UNSUBSCRIBE: http://www.evdl.org/help/index.html#usub http://lists.evdl.org/listinfo.cgi/ev-evdl.org For EV drag racing discussion, please use NEDRA (http://groups.yahoo.com/group/NEDRA)
