long term price of oil, page-5

Oil is so very hard to find and a non replenishable commodity. We have been using many times more than we have been finding for such a long time so its inevitable that at some stage we will run out. Of course supply and demand is what sets prices so the rarer it is the market will put a higher dollar figure on its worth.

Even with developed countries showing a slowdown in their previous high consumption, countries like India and China are still in growth mode and will not be slowing down any time soon. These developing countries are picking up so much manufacturing and industry from developed countries like the USA etc because these western countries can no longer compete against the benefits that China and India offer.

These countries will pickup the slack and place even greater strain on the need for oil. They are some of the biggest polluters on the planet and with governments that care little for greenhouse gases will never cut back unless it involves $$$ to compensate them.

One thing with the USA is that slowdown will not be forever then the lust and disregard for V8 pickup fuel consumption will again rule the roads. Bigger is better in the USA or so they think.

Companies like CVN have decades before we will see a non reliance on oil.