vboring

Bernanke Brushes Aside Inflation, Focuses on Growth

how can there be a 90% chance of a .25 cut and a 20% chance of a .5 cut?

Greenspan's Latest: Oil Boom Will Likely 'Go on Forever'

forever may be a long time, but energy is wealth and oil is cheap transportable energy and these facts are unlikely to change soon.

we have no acceptable replacements for oil at any price today, yet all of the world's economies are utterly dependent on oil.

sure, we can produce a little $200/barrel biodiesel for greenwashing purposes, but there is absolutely no way that we can produce enough to run an economy. there just isn't enough land or fresh water to do it at any price.

we don't have half of the electric infrastructure necessary to switch to a fully electric economy. and the infrastructure we do have is rapidly approaching the ugly end of the bathtub curve.

with energy, we can do anything. without it, our economy cannot exist. that is why energy is wealth. we have no replacement for oil, not even in theory.

forever is a long time and the price, by definition, cannot go up forever since we will eventually run out.

but, for as long as the world's economy expands, oil will keep getting more expensive