Saudi King Abdullah drops quiet bombshell; U.S. media sleep through it
Have you always thought that the oil companies are just trying to squeeze more out of us? You might want to rethink that judgment.
This link to the Energy Bulletin website provides interesting analysis from a variety of mainstream financial and industry analysts regarding a recent pronouncement from King Abdullah. Apparently they are beginning to accept that oil is not inexhaustible, and we need to preserve for future generations. I may be going out on a limb, but I expect to see gasoline reaching in excess of $2/litre by 2010. There will be bumps on the road. Only a significant drop in demand will bring about a fall in prices. Demand will fall either because a/ Consumers start to seriously conserve, b/ The worldwide economy seriously tanks, or c/ a combination of the two.
What scenario are you betting on? or, Do you discount this notion entirely and think that this rapid rise in price is just an anomaly and that we will return to the good old days real soon?
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