“It’s not a bubble. Wishing won’t make it a bubble. The only way to make the price of oil go down is to replace it.”
There’s another way:
- Invade Saudi Arabia
- Toss out the sheiks (and Wahhabism along with them)
- Lower the cost of Ameri-Saudi oil at the wellhead to something more inline with what the _real_ cost of producing it there (I would guesstimate about $50 per barrel)
- Sell as much needed to fill the gap in American demand to guaranteed sources of supply to America first
- Sell the rest on the world market, but bypass commodities markets, with first choice to the Chinese (this would assauge their concerns about our control of the oilfields).
- Let the commodies speculators deal with the new reality of pricing.
The lifeblood of our economy is something which is indeed worth fighting about.
War for oil?
Of course!
- John
Your plan would most likely create a global nuclear war. No thanks.