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Snake Oil
by techresmgt
It is not surprising that the data on the amount of oil in the ground around the world is lacking,inaccurate, or poorly reported. How better to keep prices high and speculator's 'speculating'? It's a simple matter of supply and demand. In that equation, if we don't know the 'supply' variable and the 'demand' variable is well known or relatively known, prices will skyrocket as they have. This is not rocket science. It is amazing to find the various opinions discussed on the web searching for the 'reasons' behind high oil prices. Some say speculator's are to blame. Others claim it is a supply and demand issue. Others claim OPEC is behind it all. The alarming reality is that no one knows for sure. As such, it is rather difficult to reign in oil prices if no one knows for sure how to do it. The only real answer is to invent, find, rediscover, or develop alternative energy so that we may tell the oil producers to 'get on the bike'. I hope I live long enough to enjoy that day.
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