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RE the oil price: at status quo, prices will go up, since Chinese and Indians are learning to spend like Americans. But if the US spent 8 trillion scrapping i
by pchristensen 18y ago
RE the oil price: at status quo, prices will go up, since Chinese and Indians are learning to spend like Americans.
But if the US spent 8 trillion scrapping its entire auto fleet, that would probably have a chilling effect on oil prices (incidentally making the entire effort less meaningful)
- marcus 18y agoOil prices will continue to rise in the long term because Oil reserves are finite, prices reflect cost to extract a barrel or oil not the cost to produce a barrel of oil. And people forget that oil has another important uses that aren't related at all to energy, it is used as base material for a most plastics, lubricants and so on.