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March 25, 2008

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scrubone

The current histeria is fantastic, because people are drilling like crazy for oil. In a few years, we're going to have oil that's so cheap it's not funny.

Gotta love the oil sands - if the price goes about about $60/barrel the world reserves triple. Nice.

The Optimist

When oil was $10 a barrel The Economist predicted it might hit $5, on the basis that Saudi can pump it out at a cost of $2 a barrel. At $100 I have heard that even hydrogen is viable - in other words this is a bloody high price. Surely it can't last.

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