You are correct (again)......I meant demand is rising but supply is falling. Therefore the price of oil is not reflecting it's true worth....due to manipulation. Sorry about that. I blame the red wine!! (or lack of it).
You are also correct, IMO, on the reasons why oil prices have to rise to US$100 and above. Electric cars and hydrogen fuel cell cars will help but their common use is probably still 10 years away, when prices should drop due to ......supply and demand. In Australia, the Nissan Leaf electric car will be priced around A$50,000. Same with the Mitsubishi version. Unless you have a lot of money, the average person is not going to fork out (or can afford to fork out) that kind of money today. Or if they can, they will be buying a bigger, petrol or diesel, SUV perhaps.
Unless of course, you are paying A$6 plus per litre for petrol and work 30km plus, each way, each day, from where you live. Not beyond the realms of possibility when you look at the price of petrol in, for example, the UK.
All the above is my personal opinion. DYOR.
SSN Price at posting:
14.0¢ Sentiment: LT Buy Disclosure: Held
