Can you talk about globalization without oil? With oil running at record prices many are asking how high can it go. If you ask the producers they will say it should not be this high, but they have no control over it “cough”. One does have to wonder why the price is so high with no storms or supply disruptions. So why is oil at these sky high prices? The free market for all its benefits often runs the price up on speculation. Of course the producers talk a big game, but you know they want the price where it is. While the dollar falling certainly plays into the mix, it would seem that this is just more excuses for the exuberant prices.

I doubt the prices will get any better either. The global economy storms on with no end in sight. I doubt they will ever catch up; which brings alternative sources even closer to the helm. Someone is going to make a fortune investing in these alternatives. It’s not without its gambles though obviously. I don’t think for example, ethanol is the answer as it’s not plentiful enough, and we need it for food. In my opinion it will have to be hydrogen or something of that ilk, but it too will have to be subsidized in the beginning. Either way something has to be done as we all try to find cheaper energy. The days of 20 dollar a barrel oil are long gone.