auditor0007
Gold Member
Correct!Under Bush, gas was $4.00 a gallon, and there were no restrictions on drilling. So obviously, limiting drilling is not part of the equation, or the reason for the current high prices.
Unless we develop an environmentally acceptable way to process oil from shale, then we are facing a diminishing resource for which the need is increasing dramatically due to growing economies like India and China. There is only one way for the price of oil to go no matter how much we try to suck a few extra barrels out of what is left here in the US. If we are truly serious about long term energy independence, then we will make a concerted effort at moving to other renewable sources of energy.
Germany and Japan will show the way, as they have overtaken us as world leaders in innovation of anything that is not trivial.
Germany will close all of their nuclear plants and switch to renewables. Japan has announced a similar plan.
Yea, I just read about that a few days ago and noted it in another thread. Germany in particular is setting itself up to be a leader in renewable technology. Whoever comes up with the technology necessary will have a huge jump on everyone else and it will lead to great economic growth as they will be the ones exporting that technology. Again, we will likely be behind the eight ball with our backward thinking on energy.