Current Events — HabitableZone

Current Events » in reply to TODAYS HEADLINES: Oil price rise causes global shift in wealth

re: Oil price rise causes global shift in wealth

Nobody seriously believes Iraq was about oil. Read the article yourself. It's a pretty good one, but as far as I could see, Iraq doesn't seem to be mentioned in it.

The real issue is that more people around the world want oil, new reserves aren't growing to meet that demand, and the largest consumer on the planet has inane policies that don't allow it to look for any.

The increase in China's consumption in just the past five years amounts to over 2 million barrels a day. This is about half the total that the U.S. imports, and ten percent of the total U.S. consumption.

If you really want to see this change, dump the "solar powered Manhattan" fantasies and start working on America's serious near-term domestic energy production.

Look at the countries in the article getting rich on oil. Russia, Saudi Arabia, Venezuela, Iran, and the rest. All have something in common: not one of them gives a flying rat's ass about what environmentalists might have to say about their energy production methods.

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