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Originally posted by mrmitchell
If oil consumption drops--you have to consider the entire range of jobs effected.
1) Rich middle eastern *******s
3) Rich American *******s
The're just going to get richer in the short run because the demand for oil is inelastic. Eventually in the long run alternatives will become cheaper. That's really why they keep the price of oil relatively low, because they don't want this to happen. They want to keep us hooked as long as possible. But in order to keep the price low the have to increase supply. The problem is that if they increase supply too much they will permantly damage the wells, which can destroy 80% of the capacity of the wells. That's what happened in the USSR. I'm convinced that there is no way that China can continue it's growth rate without a peak oil crisis occuring.
I drank beer. I like beer. I still like beer. ... Do you like beer Senator?
- Justice Brett Kavanaugh
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