By admin on
12/1/2007
Cheap energy is gone forever
Let’s face it: the era of cheap energy, in particular the one deriving from oil, is gone forever. Prices in those countries importing oil will never return to the level of the nineties.
It is not only due to the law of supply and demand where more and more countries need energy to sustain their growth while extraction and distribution of oil becomes more difficult and expensive. There are long-term political and economic situations which all pull in the same direction:
Chronic instability in the Middle East, located in the centre of the world biggest reservoir: the amount of money involved represent billion and trillion of dollars which get into the pockets of few powerful individuals and oligarchic regimes. It is in their interest to keep the situation unstable enough to make us worry of oil supply on...
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