Tuesday, June 13, 2006

Lord Browne on oil futures

here.
He's plumping for USD$30-40 over the long term. I hope he's wrong (and it seems everyone else thinks he is, but he's a smart man...), oil at $70-100 opens the way for people to start caring about not using it. We drop back down to $30 a barrel and it's hummers and SUV's for China...
I love the energy debate. It's so easy to focus on a single dimension. The question is not whether we can get oil out of the ground for the next 100 years (almost certainly), or whether it will come out at a reasonable price (such a vacuous definition), it hinges on whether we want to continue using oil in the 21st century like we did in the 20th.
I say we don't, and it has nothing to do with being able to pump the stuff out of the ground...

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