tag:blogger.com,1999:blog-27951078.post950327473508462527..comments2024-02-02T05:45:33.724-06:00Comments on Incoming: John Phippshttp://www.blogger.com/profile/03245790061133614986noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-27951078.post-37996807004470652472008-01-30T08:38:00.000-06:002008-01-30T08:38:00.000-06:00John, thanks for the reply. I'm glad you're blogg...John, thanks for the reply. I'm glad you're blogging. Great selection of subjects and your opinions are valuable, though I don't know how you do it all. Plan on this blog sucking up more and more of your time. <BR/><BR/>As for oil, and corn, and the rest of the commodities, demand has always grown. Fortunately, we've also always, sooner or later, been able to outpace it with supply. Ergo, lower prices. I'm backing historical precedent and betting that 3, 5, or 10 years from now, prices for all these commodities will be lower in real terms than they are now. We'll see. In the meantime, if ya ask me, it makes for good entertainment.<BR/><BR/>In case you haven't seen it, there's an excellent editorial in the WSJ today by Holman Jenkins. It's here:<BR/><BR/>http://online.wsj.com/article/SB120165424414527037.htmlAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-27951078.post-13878350538706801932008-01-28T10:22:00.000-06:002008-01-28T10:22:00.000-06:00tomson:Thanks for reading. I find it persuasive th...tomson:<BR/><BR/>Thanks for reading. I find it persuasive that oil production can expand much, and I know demand will continue to grow - ergo: higher prices.<BR/><BR/>If you check earlier posts under "energy" there are some longer explanations about the supporting evidence.<BR/><BR/>I am also heavily influenced by the expertise on the Oil Drum and Energy Blog.John Phippshttps://www.blogger.com/profile/03245790061133614986noreply@blogger.comtag:blogger.com,1999:blog-27951078.post-51741308214572949512008-01-25T18:58:00.000-06:002008-01-25T18:58:00.000-06:00John, what makes you think that oil will become pr...John, what makes you think that oil will become progressively more expensive? The history of the price of oil is one of progressively LESS expense. Blips of high prices like the present one spur new technology and investment which result in lower prices. The volume of the outer five miles of the earth's crust is about 240 million cubic miles. The world uses less than 1.5 cubic miles of oil a year. There's a lot left out there and we'll develop new ways to find and exploit it. As Julian Simon said, "The supply of crude oil is, for all intents and purposes, infinite."<BR/><BR/>I enjoy your work.Anonymousnoreply@blogger.com