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May 10, 2008

Lehman: OPEC "playing with fire"

Found this story on Drudge, but the money quote was buried way down in it:

...But some producers are becoming increasingly uneasy about the run-away prices and are finding it difficult to maintain OPEC's position.

"They are playing with fire," an analyst at Lehman Brothers, Adam Robinson, said. "Every time the price goes up, and we break a new psychological mark, they risk killing the goose that lays the golden egg. Their biggest fear is triggering something they can't control."...

That "something" would of course be a mass movement towards tar sands, oil shale, and clean coal. Those technologies, if widely adopted, would create a permanent floor in the price of oil worldwide at around $50-$60/bbl and would halt a huge problem the US currently has with exporting currency overseas by the tanker load.

I can say this - while driving through PA and WV recently, I saw a lot of billboards touting clean coal. That wasn't something I was seeing on trips back and forth from FL to NY a few years ago. Someone out there is spending a bundle on raising public awareness that this alternative stuff exists.

posted by Purp at 10:23 PM

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Those technologies, if widely adopted, would create a permanent floor in the price of oil worldwide at around $50-$60/bbl and would halt a huge problem the US currently has with exporting currency overseas by the tanker load. I can say this - while driving through PA and WV recently, I saw a lot of billboards touting clean coal. That wasn't something I was seeing on trips back and forth from FL to NY a few years ago. Someone out there is spending a bundle on raising public awareness that this alternative stuff exists. posted by Purp at 10:23 PM \| Access Comments <script language="javascript" src="http://adserver.adtechus.com/addyn/3.0/5235/1131537/0/170/ADTECH;loc=700;cookie=info;target=_blank;key=key1+key2+key3+key4;grp=[group]"></script><noscript><a href="http://adserver.adtechus.com/adlink/3.0/5235/1131537/0/170/ADTECH;loc=300;key=key1+key2+key3+key4;grp=[group]" target="_blank"><img src="http://adserver.adtechus.com/adserv/3.0/5235/1131537/0/170/ADTECH;loc=300;key=key1+key2+key3+key4;grp=[group]" border="0" width="300" height="250"></a></noscript>	Recent Comments Warai-otoko : "They already gender swapped matlock. It was cal ..." TexasDan: "It seems like the GOP is doing a slightly better j ..." Zek: ""Sources and Methods." I raise you one "ongoing ..." Maj. Healey: "I just authorized more money for the DOJ and FBI - ..." 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