Belmont Club

By Richard Fernandez

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August 20, 2008 - 5:34 pm - by Richard Fernandez
Bob Murphy
2008-08-21 02:46:59

One thing we ought to keep in mind is that yes the US needs to stop being junkie to ME oil.
But that is not going to have much of an effect on all those freaks, cro-magnons and thugs with the oilfields because of the rising demand from China and India.
So we can stop being junkies but that ain’t gonna punish the oil producers, at least not until we develop new technology that decouples GNP from the price of oil and gas and pass it on to the Chinese and Indians.