LONG TERM PERSPECTIVE

Since the markets are having starts and stops today and I am not trading it, I wanted to put in a little rant.

Sooner or later oil will be in tighter and tighter supply and eventually we will be left without any crude but we will have plenty of holes in the ground. It will happen, the only question is when, 50 years, 100 years or 200 years but it will happen. What is the point of pretending that the solution is to try to find more oil?

During the dry out period, the price of oil will creep higher and we will continue to send more and more of our wealth to the countries long oil. Our economy and living standards will suffer and the folks in the middle east will benefit as the wealth is transferred.

My point is that we need to face the truth and the inevitable consequence of a diminishing supply of oil. Face the fact that it is running out and it will eventually be dry. It doesn't matter if its next year or in 200 years, we need a different energy source. If we don't do it sooner rather than later our living standards and economy will suffer dramatically.