On Tue, 15 Apr 2008 11:58:25 -0500, Gig 601Xl Builder wrote:

Dan Luke wrote:
......a self made dooms day scenario so to speak.

Oil is $110/bbl and climbing. Gasoline is on a similar path. Those facts
alone are already starting to give serious economic impetus to alternative
energy development.


Oil is at an all time high because the dollar is at an all time low.

That's not the only reason. Demand is at an all-time high and growing
fast. Crude is getting more expensive to extract.


All
the money both foreign and domestic is moving into hard commodities.
Gold and oil just happen to be the most popular two. If the dollar
wasn't in the hole so badly the resent find off the coast of Brazil
would have really depressed the oil futures market.

Hmmm...

"...could contain as much as 33 billion barrels!"

That's a pig-in-a-poke until the reserves are proven.

That's why it didn't depress prices--not even a smidgen.