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The View From China: A World Case Study for Alternative Energy
XI’AN, CHINA – For years, I’ve been telling hushed, incredulous audiences around the world that oil prices were headed higher – much higher.
I consistently list three causes: Supply, demand, and interruption.
The first is obvious – even though most folks still don’t want to believe it. Data suggests we’re burning through the world’s petroleum reserves four times faster than we’re finding new ones. We haven’t had a major new discovery of significance in 30 years. And, adding insult to injury, we still don’t have workable substitutes in place (alternative energy technologies such as fuel cells, for instance), even though we’ve had decades…
2May2008 | Money Morning | Comments Off | Continued
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