Comments on: Oil Spikes Above $100 a Barrel

By: Stein X Leikanger

Stein X Leikanger — Thu, 21 Feb 2008 04:13:03 +0000

I’ve seen studies that have looked at the alternative cost of not having oil around, in the future, for all the things we’ll miss when we’re through burning it all up in IC engines.
$129.04 is cheap in comparison.

The fact that the price of oil is finally rising to more realistic levels will drive us towards exploring alternatives more effectively, including reducing the cost of heating and lighting/driving the technology in our homes.

About time.

By: gsp

gsp — Thu, 21 Feb 2008 03:55:51 +0000

Expensive oil is good. Also, we should (like I keep saying) tax it more as well.

Ground source heat pumps can heat rural homes cheaply. These will become more common.

Because of BTU/pound efficiency, we should keep oil for cars, and better yet , airplanes. Using it to heat homes is a waste.

By: George Labrador

George Labrador — Wed, 20 Feb 2008 20:29:08 +0000

This is bad news for all of us, it not only affects Vehicles but also Homes heated with Oil, like many in rural areas! Natural Gas wont be far behind either, today Gasoline here in Ontario ranges from $1.06 per litre Canadian dollar to a high of 1.19 per litre. This is caused by Speculators in my opinion but I do think the days of "cheap Oil" are well behind us.

By: GS650G

GS650G — Wed, 20 Feb 2008 19:24:48 +0000

Unless demand levels off and drops. IF it keeps going up then 150 a barrel is next.

By: AKM

AKM — Wed, 20 Feb 2008 19:09:32 +0000

If so, it’ll be more bad news for consumers, automakers and the U.S. economy in general.

And good news for a long overdue end of cheap oil and re-alignment of worldwide economic and consumption patterns.
The U.S. is very late when it comes to new energy developments compared to Europe and Japan, and for it’s own sake, research, development and implementation of “green” energies (I prefer the term new energies, less politically charged) should start ASAP.

Now let’s just hope it doesn’t turn into the next boom&bust…