Tuesday, May 15, 2007

Why $5 Gas Is Good for America

From a Wired Magazine article in 2005:

Rising oil prices are more than just an irritant or even an ominous nick out of the GDP. For anyone with a fresh idea, expensive oil is as good as a subsidy - with no political strings attached. Indeed, every extra penny you pay at the pump is an incentive for some aspiring energy mogul to find another fuel.

For the better part of a century, cheap oil has fatally undercut all comers, not to mention smothered high-minded campaigns for conservation, increased efficiency, and energy independence. But growing demand is outrunning the oil industry's carefully computed supply curves, bidding up long-term expectations for the price of energy. The long term may not mean a lot when you're standing at the pump, but the oil industry lives in a world where big projects take a decade to build and the checks that pay for them have eight or nine zeroes.

The changing outlook opens horizons - for conventional drilling, sure, but also for alternatives. Some new technologies merely produce more crude. But others tap energy supplies that have nothing to do with black pools under the Middle East.

What to do? Keep driving. In fact, drive more. The longer gas stays expensive, the higher the chance we'll see alternatives. Put that pedal to the metal. And smile when you see a big black $3 or $4 out in front at the gas pump. Those innovators need all the encouragement they can get. Shale oil, uranium, sunlight - there's enough energy out there for a dozen planets. Where we'll all park is another matter.


At 5/16/2007 7:20 AM, Blogger juandos said...

Ahhh, I think Spencer Reiss has a problem perceiving reality here...

Reiss doesn't seem to take into account the loony, libtard politics (mostly the Dhimis but also a fair share of Repugs to) of real and faux tree huggers & root kissers that are a major component of driving the price of crude oil refined products upwards: America stands alone in the world as the only nation that has placed a substantial amount of its domestic oil and natural gas potential off-limits. That reflects the awesome control that radical environmentalists have over Congress

Also, who says the planet is actually running out of oil?

US proved crude oil reserves last year rose for the first time in three years and natural gas reserves had their biggest annual increase since 1970, the government's top energy forecasting agency has said


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