Thursday, October 16, 2008

the end of environmentalism?

Nothing new in this, many have been pointing out out that the price of oil has dropped below its year ago price for the first time in the last few weeks. Here is the picture which does not even reflect the additional price decline today:


Anonymous Anonymous said...

Depends on how long this downturn in oil prices lasts. Also, I suspect that a long recession would act as a drag on investment in alternative energy even without depressed oil prices.

Friday, October 17, 2008 1:24:00 PM  
Blogger Burgher Jon said...

Creatively Titled. I wonder if the whole "foreigners are getting our energy money" thing will last if the energy money is less substantial.

Friday, October 17, 2008 3:30:00 PM  
Blogger C. Briem said...

even at $60-70/bbl the rate of financial flows toward oil producers and the wealth transfer it represents are pretty phenomenal. I honestly think that whole discussion started at oil prices of like $40/bbl quite honestly. I remember asking Stu H. more than 3 years ago where all the oil dollar transfers were going. At the time I think it was pretty clear they were going into short term US paper, t-bills, etc.. these days I would have to ask around what is up.

Friday, October 17, 2008 4:51:00 PM  
Anonymous MH said...

I'm more worried about balance of payments than the environment. I still support the idea of putting a floor on the price of oil/gas by using a tax. Of course, even at $4/gallon, I would have paid more for parking fees than gas.

Friday, October 17, 2008 5:48:00 PM  
Blogger Schultz said...

Agreed with MH - without a floor on oil prices corporate America has little incentive to commit themselves 100% to the move to alternatives.

Another good thing about lower oil prices is that this gives the oil companies less incentive to go after lower quality oil reserves, such as the shale and tar sands. The drilling and processing of those reserves is not only expensive but it wreaks havoc on the environment.

Saturday, October 18, 2008 1:05:00 PM  

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