By the way, the oil price is high not because the oil spigot was closed. It is because India and China needs more of it now than a decade ago. If supply is relatively constant but the demand for oil increased, price increases.
Is that bad?
Well, we have to see the whole picture then conclude for ourselves if that is bad or good. But the more important thing is - when we see the whole picture, let's not stop there. We have to act upon what we know.
So, is it bad?
The easy answer is - yes, its bad!
But the best answer as of the moment is - nobody knows for it depends on where we are at the moment. It depends on where we see ourselves in reference to the situation.
If China and India is the culprit behind the increase in oil prices, then by merely talking to them to stop demanding more oil is the solution but by doing so we have stepped on their human rights and on their nation's sovereignty. And our history is filled with story of blood and gore when it comes to the issue of nation's sovereignty. Let's not get into that.
The key question is what are we doing with the knowledge that the economies of China and India is growing? How do we turn that fact to our benefit?
And the beautiful thing about high oil prices is that it makes the alternatives sources of energy economically viable. If oil prices is up (and profits, too) it "fuels" the drive to get innovative, entrepreneurial. I mean do you think Toyota's Hybrid, the Prius, will come to be if oil prices is not that high?
But I do agree that on the short term this is really ugly. But we have to know and understand the whole picture. We have to know. We have to understand. We have to know all of these. We have to understand this so that we won't be swayed by the biggest voice in the room.
We need to know the truth.
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