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  • OPEC Is Irrelevant for Now [View article]
    This is a very good article. OPEC is indeed irrelevant now, although they may not know it. But that situation won't last, will it? Eventually the global economy will get back into the groove, and when it does OPEC will be more relevant than ever. Why is that? It's because oil is really and truly scarce, given the amount of it that will be demanded in the future.

    Personally, I've decided to forget about oil for a while and concentrate on what will happen after Jan 20th. I'm going to do that because I'm afraid that the wrong thing will happen. For example, someone might come to the conclusion that OPEC will remain irrelevant over the long run, and as a result there will be sufficient motor fuel, which in turn means a full scale, high intensity effort to put in place what the new Energy Secretary calls a "sustainable" energy economy. I'm all for a sustainable energy economy, but I doubt whether it is the one that Mr Secretary and his team have in mind.

    Ferdinand E. Banks.
    Dec 18 08:48 am |Rating: +1 0
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