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By David (anonymous) | Posted May 23, 2008 at 11:24:50
Ryan is right - the price IS real. Those posted charts agree with Matt Simmons, who said the price is much more a supply problem than Dollar drop. A story this week said BP and Exxon are complaining they can't get enough oil to refine. And a OPEC exec said they have lost control of prices because they are already at maximum production. Mexico, the US #2 oil exporter, will themselves become an importer within 2 years and run out totally in 10.
US has 4% of world population, but uses 25% of world oil. That means if 16% of the world used oil like the US, the other 84% of the world would have none. Well, guess what. Suddenly the whole planet is adopting much of the Western lifestyle, from cars to Big Macs. That's why the US is in the Middle East with guns, to take control before someone else did - a desparate move for a desparate situation.
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