[2banana]

Sound like - “we want high oil prices FOREVER and if you do anything about we will make even higher oil prices.:

GO AHEAD. The quicker you prices yourselfs out of the market - the quicker you will revert to nomadic goat herders...

[rabscuttle385]

There is oil under Colorado and Utah..."as much oil as Saudi Arabia, Iran, Iraq, Venezuela, Nigeria, Kuwait, Libya, Angola, Algeria, Indonesia, Qatar and the United Arab Emirates combined." (Bloomberg). The technology is in the works to get it out of there. Shell's estimated price per barrel: $30.

Plus, there are the tar sands in Alberta, "the largest oil deposit outside Saudi Arabia," according to Bloomberg. Technology to cheaply convert coal into gasoline is being developed by companies such as Rentech (AMEX:RTK).

The OPEC goons should be careful what they say: sustained high prices could get Americans to start looking for alternative fuels (bio-fuels, etc.) as well as other sources of oil, like North American deposits.