Comments on: Oil prices are flatlining

By: Michael Lonie

Michael Lonie — Fri, 17 Oct 2008 03:11:15 +0000

The only problem with a dropping price of oil is that lowering the price discourages investment in alternative sources of energy to imported oil, whether it is solar power, deep sea drilling, shale oil or several other technologies that are, at present, competitive only at high per barrel oil prices. Each of them has a break-even point where it ceases to be economical to pursue the technology with oil at that point or less.

By: Morton A. Goldberg, DVM

Morton A. Goldberg, DVM — Fri, 17 Oct 2008 02:59:01 +0000

Past history tells us that even if OPEC decides to cut production, its individual members won’t keep their promises to abide by their quotas. Each one wants all the others to do all the cutting, while they themselves continue to pump all they can. Most of them are the kind of folks who would gladly skin their own grandmothers for the hide and tallow if the price was right.

By: Soccerdad

Soccerdad — Thu, 16 Oct 2008 20:49:35 +0000

Darn right, Michael.

Heh.

By: Michael Ejercito

Michael Ejercito — Thu, 16 Oct 2008 18:43:20 +0000

Congress needs to investigate this plunge in oil prices!

By: Elisson

Elisson — Thu, 16 Oct 2008 16:32:27 +0000

The free market at work.

Presidential candidates: pay attention!