Wednesday, November 18, 2009

Oil Scam

Check this shit out. Still doubting that the global oil market isn't being manipulated?

4 comments:

Anonymous said...

i knew the oil market was manipulated but not in this manner. As they say hogs get slaughtered. they are just tightening their own noose. with high prices the world will shift away from oil.

RRR said...

It'll take decades even under the best of conditions to migrate off of oil. I fully expect there to be AT LEAST two more major price spikes in the next decade and at least one of those will be serious enough to break our economy. If the rumors that the gulf states are trying to create their own "index currency" to price oil are true then all bets are off. This kind of outright manipulation will become even more widespread.

Anonymous said...

it didn't take us decades to switch over from coal to gas or electric. It can be done if there is enough will. 2-3 years but people gotta want it.

RRR said...

Problem is that from an enviromental perspective it would be a disaster for us to all go from Oil powered cars to coal fed electric cars in such a short span. Not to mention that our existing electrical grid can't even begin to handle the demand that would result from such a sea change. We need massive infrastructure upgrades to pull that kind of rapid change. Of course that could employ millions and totally jump start our economy but who would want that?

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