Comment 49486

By Mr. Meister (anonymous) | Posted October 14, 2010 at 10:43:34

jasonaallen - I have some bad news for you. We are the uber rich. IF oil prices rise as drastically as you predict (which I doubt) then we are the most able to deal with it. What will a 30% or 40% or 50% increase in oil prices do to India or African or Chinese demand? I wager a lot more than in N. America and Europe.

Oil is not going to suddenly disappear. The price might increase but it is not going to go away. A couple of years ago the price shot up but I did not see a huge surge in transit usage. In Europe where gas is a lot more expensive than it is here and transit is much better, car ownership and usage is steadily increasing. How much of the average persons budget is spent on oil and gas? While we may consider it a lot it pales in comparison to what we spend on mortgages or rent. Any rise in gas prices will certainly affect us and create much complaining and griping but people will adjust and compensate. Peoples love affair with the automobile is a lot stronger than you think it is.

While nuclear generating is certainly going to prosper you have completely dismissed both wind and solar generating. I appreciate that at this point neither is a major source of power. Wing turbines are already contributing a noticeable amount of power and have the potential to generate much more especially in our country where we have so much open space. Look how far north Quebec built their big damn and power generating. How many turbines could you build in that distance?

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