1 post tagged “oil bubble”

Ok, oil is expensive and it is creating pain for our economy.  Prices are crazy high, vacations are being canceled, companies that rely on fuel are going out bankrupt left and right, mass hysteria -- bad, right?

There could be one hell of a silver lining here; investments in new technology.  Not just green technology, which is great and all, but for the most part doesn't solve the problem. 

What I am hoping for is money going into replacement technologies.  We're not out of oil yet, so we actually have time to develop reasonable replacements without our entire oil-based infrastructure crashing to a halt.  If you think prices are high now, wait until there are real production problems.

Here's hoping that prices stay high long enough to actually drive enough money towards replacement technologies to actually make a difference.