Like the illusion of Wall Street, with its vast and powerful investment banks, now shuttered, China too is an illusion perpetuated by the Globalists that gave us the 15,000 mile Caesar salad, poisoned cat food and lead based paint on babies' pacifiers. Like the illusion that money would come from thin air to always push housing prices higher, China has spent a generation pursuing its illusion. Pursuing an unattainable dream to be like the West, while 6000 years of its carefully shepherded top soil blows into the sea.
Joined: Mar 04, 2005 Posts: 2752 Location: New Zealand
Posted: Mon Nov 13, 2006 9:46 pm Post subject: US Energy Chief Says High Oil Prices Could Wreck Economies
US Energy Chief Says High Oil Prices Could Wreck Economies of Many Countries
Quote:
U.S. Secretary of Energy Samuel Bodman is warning that high oil prices can wreck economies, especially in the developing world. Secretary Bodman says they can also stifle business growth and hurt efforts to improve health care for the poor. Bodman made his remarks during a speech in Washington.
"The Energy Information Administration estimates that by 2030 global energy consumption will grow by over 70 percent. The strongest growth is expected in developing economies in Asia, including China and India, with growth expected to triple in that region over the next 25 years," he said.
"It is not an understatement to say that high oil prices can literally wreck economies. They can restrict development in a way that stifles business growth and, more notably, inhibits improvements in the health and well-being of so many around the world."
The secretary of energy is urging oil-producing countries not to cut production in an attempt to boost prices.
The energy secretary says governments around the world must fund more research into alternate energy sources, such as ethanol, solar and wind.
voanews _________________ Human history becomes more and more a race between education and catastrophe. H. G. Wells.
Fatih Birol's motto: leave oil before it leaves us.
Joined: Apr 06, 2005 Posts: 1020 Location: 38 km west of Warsaw, Poland
Posted: Tue Nov 14, 2006 2:08 am Post subject: Re: US Energy Chief Says High Oil Prices Could Wreck Economi
Good to see that he is concerned about the 'health care' available to the poor. Maybe he could start something to see that the 48 million Americans without any health care/medical benifits could at least get basic preventative care... _________________ Remember, with globalisation "everyone is a winner" in the "race to the bottom". - rogerhb
Any sufficiently advanced technology is indistinguishable from magic. A.C. Clarke
Posted: Tue Nov 14, 2006 9:50 am Post subject: Re: US Energy Chief Says High Oil Prices Could Wreck Economi
lateStarter wrote:
Good to see that he is concerned about the 'health care' available to the poor. Maybe he could start something to see that the 48 million Americans without any health care/medical benifits could at least get basic preventative care...
He's only worried about the world poor insofar as they stay alive enough to work in the sweatshops of tomorrow that keep the economy rolling in cheap clothes and plastic crap. China will only stay 'lucrative' for so long... _________________ "It's called the American Dream because you'd have to be asleep to believe it."
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