Re: Bush high oil price policy: Ready for $262/barrel oil?

Cosmopolite wrote:
> At that price, there would be a total global economic collapse.
> No one would, or could buy oil.

$262 per bbl? Look at what EUtopians pay for gasoline & diesel at
retail today -- close to $300 per bbl. And look at how crowded
European roads are. And how busy European airports are. And how much
oil Europeans use. Of course, most of the $300 final cost represents
taxes claimed by EUtopian governments.

If EU governments cut back on their outrageous fuel taxes as the price
of oil rose, the consumer might hardly notice the difference. No total
global economic collapse -- unless greedy EU governments got in the
way.

Something to be concerned about for the longer term -- OPEC countries
sell an irreplaceable barrel of oil for about $65, out of which they
have to pay for the costs of finding & production. Maybe it costs $30
to transport, refine & market that barrel. Setting aside fuel use in
the refining process and refinery gain, the EUtopian end consumer pays
around $300. How long are OPEC countries going to put up with a
situation where the consumer government is taking 80% of the economic
rent from the OPEC countries' irreplaceable natural resources?

.

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