by AdamB » Fri 12 Feb 2016, 01:28:25
$this->bbcode_second_pass_quote('MonteQuest', 'A') few Sundays ago, "60 Minutes'" Steve Kroft asked President-elect Barack Obama if the astonishing drop in gas and oil prices made dealing with energy issues "less important." Obama responded forcefully: "It makes it more important."
Like a passing hurricane, this “eye of the storm” in gas and oil prices is setting us up for an even more painful energy crisis in the very near future.
So...that never happened obviously...and as we stand here with gasoline prices possibly going under $1/gal in certain places in the MidWest soon...was this the crisis you were referring to as you revised your world view?
$this->bbcode_second_pass_quote('MonteQuest', '
') We must consider that, should oil prices and demand remain low for an extended period, new investment in oil production — not to mention renewables — will fall to such an extent that, with worldwide depletion of existing fields at 6.7 percent a year, there simply will not be enough new oil, or oil replacement energy, to power an economic recovery.
And instead, as it turns out, there is too MUCH oil! Surprising twist, I agree.
')The true costs of cheap oil and the consequences of its’ use, have historically always been externalized — our military presence in the Middle East to ensure the flow of oil; environmental damage such as global climate change; the declining health of all living things – and have never been paid by consumers at the pump.