Engineer

Oil Majors Should Just Buy Real Gold

As a shareholder in several oil and gas companies, I would be completely fine with managment using 1% of current assets to purchase gold as a hedge against long-term inflation.

After all, this used to be the case by default for all current assets before 1971.

Time to Fill Up on the Strategic Petroleum Reserve

Great post Michael! Our energy problems are not going away.

The other long term side benefit in developing 'local and diffuse' sources of energy is that this will reduce geopolitical tensions.

Wind power, solar power and biofuels can be produced virtually anywhere. The technologies are simple and proven. Every nation can do this. There is more than enough renewable energy to supply ALL of the world's energy needs.

If you remove the tensions due to the procurement of energy, there will be fewer reasons to station large armies in the desert.

From being in this industry, I know the economics are currently marginal for these projects. But society needs to grow up and make sacrifices if necessary to do the right thing.