Thalamus

What Can Possibly Explain the Price of Oil?

OPEC can't raise production because it CAN'T raise production. Their wells are maxed out so they just make it appear they aren't interested in raising output. High prices are very good and hopefully go higher so demand is cut for oil, hopefully giving us time to come up with a soft landing through new technologies. Think about it; if we start right now with the intent of weaning off fossil fuels, and we start putting wind mills EVERYWHERE, and have each group of wind mills create and store hydrogen to power vehicles with, then throw in as many dams as possible on each river, max the nuclear plants, and conserve like crazy, we might be able to pull out of this petroleum nose dive! Unlikely, but the only chance I see and if I was president I'd be proposing something like this.