On Friday 14 May 2004 10:10 am, Robert E. Shlafer wrote:
>
> We simply have to decrease our thirst for
> petroleum by developing alternative forms
> of power, right? I don't see we have any other choice.
>
That is the long term solution. We need an Manhattan Project approach to
finding an alternative to fossil fuels.
> Ya' know....I think we're screwed no matter what we do. If it ain't by
> the Arabs,
> it'll be by our own "corporate leaders of
> honor and integrity", anyway!
>
Wrong (mostly). Oil is over $40 per barrel today. The real reason for the
high cost is increased demand from the Pacific rim. I got this from Asian
Times but you can find many references to the worlds oil consumption.
"World oil demand is expected to increase by about 2 percent in 2004. Demand
in both North America and Europe is expected to increase by only about 1
percent. In contrast, oil demand in Asia is expected to grow by 4 percent
this year, led by nearly 11 percent growth of oil demand in China. This is
very significant because China is the world's second-largest consumer of
crude oil after the United States. China's crude-oil consumption was
equivalent to nearly 70 percent of the combined crude oil consumption of
France, Germany, Italy and the United Kingdom last year. Though economic
growth is expected to slow marginally in China this year, oil demand growth
is expected to remain underpinned by the country's insatiable energy demand.
Tightening world oil supplies and continued strong demand for oil will push
oil prices above $40 per barrel (West Texas Intermediate basis) this year.
However, in the short term, oil prices could slide. In addition to building
oil stocks in the United States, which recently reached a 19-month high,
speculative long positions in oil derivatives are very large. At some point
these speculative positions will shake out, pushing prices lower.
Nonetheless, any downward correction in prices will probably be short-lived.
Only significantly weaker-than-projected oil demand growth in China could
lead international oil prices on a sustained down trend this year. "
" [ Asian Times Online
http://www.atimes.com/atimes/Global_Economy/FD08Dj02.html ]
If we are going to complain about gas prices lets get the facts correct. The
real problem is increased consumption and finite resources. On the plus
side maybe the Chinese made spring will no longer be dung forged :-)
The US energy consumption makeup is another whole thread.
_______________________
Bill Gilroy
77 MG Midget
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