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No Alternative for Now

Oil now trading at $72/barrel, down from $147 peak and down 15% from 1 year ago. Oil sector equities are pricing in $25/barrel assumptions based on forward cash flow. Obama better tax the oil companies quick before they run out of money. At least I will no longer hear the cocktail party greens talk about Solar. Hope they weren’t long, but people like that usually aren’t.

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From Credit Suisse Report.

Discussion

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  1. “At least I will no longer hear the cocktail party greens talk about Solar.”

    8 Petawatts of solar, 800 times the energy we consume in oil,I did the sums the other day on this to check a comment I made to an algae comment:

    http://www.myninjaplease.com/?p=6733

    IMHO, better not get too complacent with the oil, I’m with Mish on this, production falls, demand falls and we get a temporary drop, so what? Hasn’t changed the quantity of oil in the world, or the efficiency of it’s use.

    http://globaleconomicanalysis.blogspot.com/

    Posted by Ninja | October 16, 2008, 6:08 PM