07-10-2008, 03:24 PM
The market economy is a wonderful thing. Price goes up -> supply goes up -> price goes down again.
Maybe quite a bit of the cheap oil has been used up, but there's plenty left in more expensive forms (eg oil sands in Canada). Not to mention energy in other forms: maybe we'll finally use that heat in the ground here in Hawaii like they're doing to great effect in Iceland. They're even building aluminium processing plants there despite the complete lack of bauxite!
If people can't trade freely in oil futures in the US, then they'll do it elsewhere.
Maybe quite a bit of the cheap oil has been used up, but there's plenty left in more expensive forms (eg oil sands in Canada). Not to mention energy in other forms: maybe we'll finally use that heat in the ground here in Hawaii like they're doing to great effect in Iceland. They're even building aluminium processing plants there despite the complete lack of bauxite!
If people can't trade freely in oil futures in the US, then they'll do it elsewhere.