Quote:
Originally Posted by ParsonMac
I have a little different view. I'm sure the Oil Companies will want to maintain profits, but there is such demand for their product and we will be so dependent upon them for years to come, and alternative energies will come online so gradually/incrementally (and slowly), that it's not going to make that big a dent (esp. with oil so high!)
As other technologies become viable (like Vertroleum) I'm sure Big Oil will diversify to reap those profits as well.
The neat thing about Vertroleum and related products is that the current petroleum infrastructure in place nation wide (and which is not going to change overnight) can be used without modifications (or little).
I like and appreciate what Oil and hard-working oil workers and companies have done for our country. We wouldn't be where we are without them (though they COULD stand) to give us a price break and refuse to let the futures traders have as much influence as they do!)
But... what do I know?
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I agree that the oil industry has created thousands of jobs and has done much for our country; however I am thinking more of the source of a majority of the oil consumed - the middle east. Our dependance on that region needs to be lowered and a fundamental shift to more consumption of renewable/green energy will do that. No doubt the oil companies will still make their money in the distribution of oil; but hopefully they will gradually move towards the distribution of renewable sources of which they will no doubt be a part of as well. We all know this will happen...it's just when and at who's cost...and more importantly who's benefit (hopefully SSTP will play a part in that!). The reference to XOM's revenues ($300B+/yr) tells us the mass amount of potential in this eventual energy revolution...
JMHO...