What some of the experts are missing is that demand is already taking a hit. At over $3 a gallon, people are cutting back. I know I'm cutting back, and a gas station owner I was talking to also mentioned much less traffic on the road. An AP story, I believe, also cited light traffic on the highways. I'm also thinking about the positives. Now there is much more financial incentive to develop alternatives. I remember travelling on I-85 through Georgia not too many years ago. The price was well under a dollar a gallon at most stations.
Supposedly when gas peaked this weekend it was, after adjusted for inflation, tied for the highest price in history.
Actually, the next step is extracting oil from sand in Canada. Sale il is the step after that. I think you are onto something. PJ O'Rourke once wrote about whale oil. Whales once provided a huge portion of the oil and other industrial materials used in factories. So whales were hunted to extinction. And what happened? Other things were found to replace whale products. Hopefully, the same happens here. I want to buy stock in companies that make windmills.
Thats one area that Ive never ventured into, how does one go about buying that? would places like Ameritrade (my broker) offer that? if not, then who would? Thanks for the replies (if any) in advance.
Here's for the "paranoia" post. Mind you, this is the worst possible cases cenario, and very conspiracy theory, it makes an interesting read though. http://www.lifeaftertheoilcrash.net/