Honest question about oil consumption and alternative energy?
Admittedly, I don't know much about how the oil industry works apart from the fact that they're banking huge profits and have very well paid lobbyists to protect their interests. What I I do know about alternative fuel is that we have done very little,
This reminds me of the commercial for the fuel cell BMW.
It seems to me the R&D phase is over. BMW can make one and so can Honda. Lets get those puppies on the road. The only thing that appears to be lacking at the moment is the infrastructure
If disturbances hit Algeria and threaten its oil industry too, the buffer of spare capacity would fall below where it stood in 2008. But demand now is much higher, so spare capacity as a proportion of that demand is much lower (see chart 1).
But trying to reduce US oil consumption by targeting the petroleum industry in northern Alberta makes about as much sense as trying to stop cocaine use in Los Angeles by eradicating coca plantations in Bolivia. Which is to say: It doesn't.
Other members have raised similar suggestions, saying that a sale at the current price of nearly $100 a barrel could produce billions of dollars to ease pressures on the federal deficit and accelerate policies intended to reduce oil consumption,