Friday, February 25, 2005
The Peak Oil Bubble
From Bakersfield.com
I wouldn't hold your breath waiting for an alternate source to preserve modern industrial civilization's addiction to oil and save our collective asses. Ain't gonna happen. Get ready to start growing your own food and making do with a whole lot less than you have now.
And for all those with money in the oil market, you better pay very close attention because while you still got a few years to make money on it, eventually, that bubble is going to pop and then you will be holding paper only fit to burn and keep you warm in the winter.
Posted: Friday February 18th, 2005, 2:45 PM
Last Updated: Friday February 18th, 2005, 2:45 PM
Exxon passes GE to be biggest
KW Associates, Realtors
Exxon Mobil Corp. overtook General Electric Co. as the world's biggest company by market value, underscoring the emergence of energy stocks as leaders amid surging oil prices.
Exxon Mobil, the largest publicly traded oil producer, was valued at $383.3 billion as of Friday's close, according to data compiled by Bloomberg. The figure surpassed the $379.3 billion value of GE, whose 11 units include financial services, health care and the NBC television network.
"Exxon mirrors the importance of the energy industry," said Forrest Mervine, who helps manage $1.4 billion at Philadelphia Corp. in Philadelphia. "That's going to be the case for a while until alternate sources of energy come along."
I wouldn't hold your breath waiting for an alternate source to preserve modern industrial civilization's addiction to oil and save our collective asses. Ain't gonna happen. Get ready to start growing your own food and making do with a whole lot less than you have now.
And for all those with money in the oil market, you better pay very close attention because while you still got a few years to make money on it, eventually, that bubble is going to pop and then you will be holding paper only fit to burn and keep you warm in the winter.
<< Home
