I was amused to read the CNBC article dt. 9th July 2008.
http://www.cnbc.com/id/25606039
Read this section in particular.
"But because their counterparts in developing countries across the globe continue to fill their tanks at will, often with gas priced artificially low because of government subsidies, there's likely to be little relief on the way".
The author ( whoever it is) has almost an accusing tone of the developing countries ( read: China and India) of "consuming all the hard-saved last drop of oil by the drivers in our country".
I do not see any rationale behind. When these same drivers were happily criss-crossing the country in their Hummers, Cherokees and other SUVs, falunting what they could then aford and were capable of, they expected nobody to complain... in fact their ostentatious ways of driving exacerbated after the 1973 oil crisis. It is still not uncommon to find a lonely lady driving a half lorry all for herself, even in these days of $150 oil.
This, to me, is like the devil quoting the scriptures.
Remember, the boom century in America was started off with the Automobile revolution, when people were able to spread themselves into the countryside for a living, and were still able to enjoy the fruits of big cities, courtesy Henry Ford and Co. That boon is now turning into a bane, since public transport is now virtually non-existent in the US.
Now, the US can use all the oil in the world for their development ( in the earlier part of the 20th Century).... but now when China and India are attempting to do the same, they are being scorned at.... what a hypocrisy!!
Musings of a man who is constantly trying to give new perspectives to things we all seemingly know already.
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