posted on May, 7 2010 @ 08:25 PM
It is going to be a political issue now, and the fate of the economy hangs in the balance.
Regardless of what you want to believe, this unfortunate event in the gulf will be exploited for political gain.
Politically it can now be effectively argued that offshore drilling is too risky, so if we can't decrease our dependence on foreign oil then we must
decrease our dependence on oil period.
Cap and trade anyone?
Naturally demand is going to only continue to grow, so the only logical way to reduce that demand is to raise the price so high that the demand will
The problem is, we have already seen the snowball effect of higher fuel prices, and it will only serve to make an already bad economy much worse.
Alternative energy will not happen soon enough.
Eventually what will happen is you are going to be faced with much higher fuel costs.
Those higher fuel costs will be passed on to consumers in much higher costs for nearly everything and that will have an effect on people who are
already struggling to get by on shrinking family budgets.... More mortgage failures, bad debt, bankruptcies and in record numbers beyond anything seen
yet... more badness... more decline... Ultimately markets crash and it will be unstoppable this time no matter how much money the fed prints.
What we should do is drill more, despite the BP disaster, and we should do it anywhere and everywhere we can... But you know that isn't going to
happen now... despite the fact that it will literally mean life or death for the economy.
They couldn't have planned for a better means to demonize oil exploration and drilling... And the timing was incredibly perfect.
Learn to say goodbye to your way of life now, if you haven't already... Things are going to change dramatically over the next 2 to 3 years.
It isn't going to be good.