$60 oil means that alternatives are just a matter of time. $100 oil would the eventual replacement of oil.
Clean coal, nuke, hydrogen, electric, etc. will become affordable, or the research will.
It's coming. There'll be some lucky investors who win big on this one.
Yep, someone right now is working on better alternative fuels, and someone with the money to finance them is thinking of the money they'll make with a petroleum alternative.
Capitalism works!
I've been saying that for a long time. Hydrogen, hybrids, and methanol/ethanol will in some combination be the fuels of the future. No one fuel is cost-effective now, but the person that invents cheap ways to produce or obtain them will be a millionaire...
Only if some brainiac is able to figure out the physics of transporting food stuffs and material goods via the electronic medium.
Otherwise you'd better have an Arkansas credit card and a few hunting rifles. ;)
Clean coal, nuke, hydrogen, electric, etc. will become affordable, or the research will.
Yep and domestic and other friendly country oil sources that were deemed uneconomical will become more economical, and as technology advances, their price of extraction will come down and means more domestic jobs.
Necessity is the mother of invention. All this will do is speed development of viable alternatives to fossil fuels. While it's going to sting in the pocketbook for awhile, in the long run it might not be such a bad thing after all.
"Clean coal, nuke, hydrogen, electric, etc. will become affordable, or the research will. "
Biodiesel technology is the way to go. But "BIG OIL" has a strangle hold on the government. So we will have an oil induced inflation-thus our dollar will buy less and the American dream becomes smaller.
$60 oil means that there are an amazing number of suckers, as well as far too many speculators laughing all the way to the bank. $100 oil means that the mother of all crashes is coming in the oil business. Worse than the 1980s ...