Originally Posted by
Tightwad
The price of LIGHT ,EASY TO GET AT, CRUDE is where it is now due
to the devaluation of the dollar combined with increased demand
from China & India.
There is plenty of heavy ,hard to pump/refine, crude. The days of cheap light
crude are what's over. The market knows that, it's the public that doesn't.
The public also can't grasp that there is plenty of oil left, as you said theres plenty of heavy, harder to get at oil. Everyone is so doom and gloom about gas being higher than in the 70s, but haven't they noticed that there is no supply problem? No rationing? No long lines at the gas station? Its all about speculation, and as you say, the devaluation of the dollar. I remain optimistic; however, and think that the price will go down eventually.
I am a SUV driver myself, but its not a 13 mpg SUV (it's a 20 mpg SUV), and I also consume so little in my tiny little apartment, that I believe I offset much of the emissions anyways. Just putting that out there, because Ive gotten "SUV drivers go to hell" on other threads from those not knowing I was one. Not that they would care.