Itsonlymoney

Three Ways to Profit From Oil's Record Highs

Nice summary of the situation. Am I alone in thinking that the Bush administration has been instrumental in oils rise as well. Certainly our current foreign policies have exacerbated the problem. Chavez and Ahmadinejad both have a strong incentive to keep the price of oil high and their shenanigans seem to renew whenever oil prices start to decline. Why do we continue to take their bait? Interestingly, wars over oil will not lower its price. The Iraq war has taken a huge reserve off the market and the lack of a wholehearted national push for alternatives has contributed to oils rise as well.

Higher oil prices are not all bad. Their effect is to focus our attention on just how wasteful we are of an increasingly precious commodity. I am wondering this, what is that oil price where some real shift in American thinking takes place so we make meaningful accelerated changes in the way we live? Until this shift takes place, oil is still cheap.