Comments on: Why oil prices keep rising http://polizeros.com/2008/05/28/why-oil-prices-keep-rising/ Musings on politics: anti-war, global warming, peak oil and otherwise Thu, 08 Jan 2009 07:24:38 +0000 http://wordpress.org/?v=2.7 hourly 1 By: Jim http://polizeros.com/2008/05/28/why-oil-prices-keep-rising/comment-page-1/#comment-152826 Jim Wed, 28 May 2008 20:49:17 +0000 http://polizeros.com/?p=11738#comment-152826 <i>"prices increase because there is no excess supply"</i> Which has been an engineered shortage: 1) by Western governments (whose societies require huge energy resources) blocking exploration and refining capaciities out of self-deceptive NIMBYism 2) by under-developed nations subsidizing petroleum consumption in order to promote development Presumably, increased petroleum prices will eventually throttle both of these impetuses. “prices increase because there is no excess supply”

Which has been an engineered shortage:

1) by Western governments (whose societies require huge energy resources) blocking exploration and refining capaciities out of self-deceptive NIMBYism

2) by under-developed nations subsidizing petroleum consumption in order to promote development

Presumably, increased petroleum prices will eventually throttle both of these impetuses.

]]> By: DJ http://polizeros.com/2008/05/28/why-oil-prices-keep-rising/comment-page-1/#comment-152818 DJ Wed, 28 May 2008 15:37:13 +0000 http://polizeros.com/?p=11738#comment-152818 There's no consensus that there actually IS a bubble. However, the most optimistic projections I've read suggest that when the "bubble" bursts, oil will fall no lower than $100 per barrel, so don't bet on cheap gasoline anytime soon. There’s no consensus that there actually IS a bubble. However, the most optimistic projections I’ve read suggest that when the “bubble” bursts, oil will fall no lower than $100 per barrel, so don’t bet on cheap gasoline anytime soon.

]]>