ardano

High Steel Prices: A Preview of Peak Oil

dear phillips49...great post. what is so unfortunate that as boone pickens, of all people, says is that leadership on the energy issue has been lacking all those years. We're in Iraq because of oil. Who are we really kidding? Could we have tolerated yet another huge reserve of oil to fall into unfriendly hands? We will cut deals with the Saudi's and Russia to insure the flow of crude and natural gas. And, only because we are forced, will we change our ways domestically. However, we will find a way to get beyond this. In spite of how bad things look now, this country, this system, is the only economy and society who can take another energy shock and finally make the necessary changes. However, demand destruction in this case will not be easy.