I think this is the beginnings of an economy based on perpetual growth and fossil fuel energy running headlong into geological energy constraints. Basically I see an undulatory downward path for the rest of my life. From here out, I think any rallies in our economic condition are going to be met with spiking commodity prices that knock us right back down.
Joined: May 20, 2004 Posts: 235 Location: Sonoma County, Northern California
Posted: Tue Jul 13, 2004 8:09 pm Post subject: I think the truth about Saudi oil will unfold within a year.
There is lots of speculation now, even rumors of U.S. plans for a military takeover over of the small area where the big oil fields are should the House of Saud fall - and the king is old and frail.
The instability of Saudi Arabia certainly must be a factor in the U.S. moving it's mideast military bases to Iraq.
If you read my post on Dr. Bakhtiari, you will be even more convinced that middle east oil reserve data is extremely inaccurate.
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