Posted on 12/18/2014 6:24:01 AM PST by Oldeconomybuyer
North Sea oil was to be the cash cow for an independent Scotland. I think the Scots fortunate not to have found this out when it was too late.
The majority of over 6,000 products made from a barrel of oil is not for gasoline or diesel fuel for planes and cars. We're talking asphalt for roads and roof tar, fertilizers and animal feed, paints and lubricants, plastics, cosmetics, the list is extensive. Oil gets consumed whether we drive or not. Products need to be churned out daily that are made from oil. There's your demand that needs to be satisfied.
Stop your welfare state England.
Oh, wow, will every Norwegian no longer be a millionaire? How else are they going to afford those $12 cups of coffee?
Couldn’t agree more. That demand isn’t going away, although it can be affected a little by economic cycles or war.
Habits are more likely to change quickly with large price increases than large price decreases with a relatively inelsatic product.
Agreed.
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