[Vision2020] Oil: New Record High: $121 Barrel

[Ted Moffett]

Oil closes at new record high $121.84 a barrel today.

Could it be (why, this is just wild speculation!) that there is resistance
to aggressive implementation of alternative energy for transportation
because there are billions to make off oil as the global demand increases
while supplies tighten, in a marketplace trapped by oil as the only major
option for energy for transportation?  This theory assumes the oil and
related energy corporations are manipulating governments and the marketplace
in their favor.  Or perhaps the marketplace will respond quickly to offer
alternative powered cars and trucks now that gas and diesel costs are
increasing dramatically.  If alternative (electric, fuel cell, hydrogen, et.
al. or maybe biofuel, though now we see biofuels competing with food, and
forcing ecosystem damage, major negatives) powered cars and trucks can be
made practical and affordable for widespread roll out, with enough
alternative energy distributed widely, as the optimists claim, it would seem
the marketplace is ripe for a rapid increase in an alternative energy
transportation economy.

Part of the increase in oil prices is based on speculators buying now hoping
to make money on future oil price increases, according to the article below,
hitting $150-200 a barrel!  What will gas cost if oil hits $150-200 a
barrel?
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http://money.cnn.com/2008/05/06/markets/oil.ap/index.htm?postversion=2008050615

A new Goldman Sachs prediction that oil prices could rise to $150 to $200
within two years seemed to motivate much of Tuesday's buying, although a
falling dollar and increasing concerns about declining crude production in
Mexico and Russia contributed, analysts say.

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Vision2020 Post: Ted Moffett
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