Tuesday, January 8, 2008
I saw this on The Oil Drum today. Too much truth. One day when I was driving Mr. Russell around we were talking about the state of the world and got to talking about energy. I said it was hard to believe that so little progress had been made in using solar energy. He replied that with fossil fuels you install the furnace or stove and keep paying the rest of it's life. With solar, you install the equipment and then ...... no one gets paid.
And truth be told, International oil companies are losing control of the market. National oil companies (Think Gazprom of Russia, also Mexico, Saudi Arabia, Venezuela - many countries) are gaining power and influence. The Exxon-Mobils and Chevrons of the world want to find the oil, develop the oil and get it to market. The more they pump, the more they make. National companies realize that this may be their countrie's only chance to develop infrastructure and markets. The higher the prices go, the better for them. ...
Incidentally, I think the Oil Drum has more information on the oil industry and oil geology than any site I have seen. Most of the contributors are oil professionals, so if you want information from those that walk the walk.....it is hard to beat. Otherwise, if you want pleasant pablum, continue on with network TV and financial publications.