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Why $120 oil is good
money.cnn.com — Speculators are often blamed for artificially inflating crude prices, but some experts say high prices are needed to cut demand and develop new resources.
zlatinb- 22 diggs
- digg it
- Martinjv71, on 05/08/2008, -1/+1AGAIN Give me a break- Just keep giving them an excuse to raise the price- Gee I wonder how much you have invested in oil. Your a schmuck.
- zlatinb, on 05/08/2008, -0/+2I stopped investing in oil 3 years ago. My conscience couldn't bear it.
- FinStrat, on 05/08/2008, -0/+1In the late 1800's headlines read "Oil Shortage is Upon Us", "Country will be in the Dark"...
There was a shortage - of oil, whale oil... and just like they said their oil lamps went dark. But not before a better alternative was available thanks to the same market forces that will replace oil as a source of energy.
In the early 1900's they said cities are doomed, they will be uninhabitable soon. This was due to the increasing health and sanitation problems due to horse manure on the streets. The market came up with a solution, hydrocarbon powered transportation.
In both of these instances, people made money... as evil as it sounds, it is a reward for smart hard working people. - rebelcapitalist, on 05/09/2008, -0/+1Sadly, this is not the first time (1970's) that the oil markets sent us a signal but we failed to do anything at that time. I hope we respond to this current signal. At this point the only thing that will bring down prices is viable alternatives to oil.
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