Quote:
Originally Posted by White Rabbit
Btw, I find it interesting that, faced with the coming oil shortage, US policy makers appear to be only concerned about reducing US oil imports - as if reducing US imports is somehow going to save the day.
We are going to run out of oil fairly soon and it won't matter if it was US domestic or imported oil when it is all gone.
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The focus on reducing imports contributes to the illusion favored by blind patriots who still believe the US can pull its own economic weight.
The only fun in the entire issue is trying to determine how high in cost a barrel will get before the party is over. I'm seeing over $200 this year and, dependent on USD policy, some are saying even higher as commodities become the only safe hedge against USD devaluation due to fiscal irresponsibility. A $500B+ deficit will be announced right before the presidential election and that's almost 4% of GDP in a declining economy, a sobering thought to anyone who likes statistics.