As for the price of Oil augmenting due to legitmate security concerns of the State of Israel, the same can be said for the upward pressure on Oil Prices by China. The net effect is the same, and neither is blameless (from an economic perspective that is) for the Oil Shock, as one is Supply and the other is Demand driven. The solution to the global energy and security crisis is the divestment of the petro-chemical companies into the investment of hydrogen fuel, preferably by solar power, as it is in the long-run, cheaper, as the Sun is infinite, and all that is required are periodic maintenance audits. Human nature being the way it is though, will people fight over or share this new resource once it is one day achievable, satisfying not only international security, but also the Kyoto Protocol on Climate Change.
Regards,
Daniel Garcia. |
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