Sounds promising. Question though, would high powered people squash this before it starts or just take their hands from the Saudi oil to this and still create a fucked up situation for our economy.
I think that no one would quash this, for the simple fact that if this is a viable process, it will take decades to put it into practice to the extent that it replaces our consumption of the old-style crude, allowing oil companies to continue to profit off of their traditional business model for the foreseeable future.
As for creating a fucked-up economy, I'm not sure of what you have in mind. The price of oil isn't the result of greedy oil-companies artificially inflating the price of the stuff. The price is a result of many factors, not the least of which is the ratio between the demand for the stuff and the available supply.
Sounds promising. Question though, would high powered people squash this before it starts or just take their hands from the Saudi oil to this and still create a fucked up situation for our economy.
ReplyDeleteI think that no one would quash this, for the simple fact that if this is a viable process, it will take decades to put it into practice to the extent that it replaces our consumption of the old-style crude, allowing oil companies to continue to profit off of their traditional business model for the foreseeable future.
ReplyDeleteAs for creating a fucked-up economy, I'm not sure of what you have in mind. The price of oil isn't the result of greedy oil-companies artificially inflating the price of the stuff. The price is a result of many factors, not the least of which is the ratio between the demand for the stuff and the available supply.
Speculation and a hurting dollar are two other major factors.
ReplyDeleteWeak dollar, certainly. Speculation, I have doubts. Krugman of the NYT thinks that speculation is having a negligible effect on the price of oil:
ReplyDeletehttp://krugman.blogs.nytimes.com/2008/05/13/more-on-oil-and-speculation/