High Oil Profits: Potentially Positive
Oil executives showing up on the Hill today got me thinking:
First of all, the high oil prices are not the fault of oil companies that oil has such a high price, as it is a commodity like wheat or corn. It has a world market price, and the oil companies take whatever price that me be, low or high.
Why I believe that these record profits could be helpful in the future depends on what the oil companies choose to do with those profits. Were I an oil executive (which I am not), I would send those profits to alternative energy R&D. Oil is a limited reasource. How limited? No one knows.
The future is not in fossil fuels, but in solar, wind, nuclear power, or something else entirely. Moving from an oil company, to a true energy company, would be greatly beneficial to a company in the next 5-20 years. I haven't been able to find anything on this with facts, just companies saying they are doing this, and greenies saying that they are lying/paying lip service (similar to the Wal-Mart case last week or so).
First of all, the high oil prices are not the fault of oil companies that oil has such a high price, as it is a commodity like wheat or corn. It has a world market price, and the oil companies take whatever price that me be, low or high.
Why I believe that these record profits could be helpful in the future depends on what the oil companies choose to do with those profits. Were I an oil executive (which I am not), I would send those profits to alternative energy R&D. Oil is a limited reasource. How limited? No one knows.
The future is not in fossil fuels, but in solar, wind, nuclear power, or something else entirely. Moving from an oil company, to a true energy company, would be greatly beneficial to a company in the next 5-20 years. I haven't been able to find anything on this with facts, just companies saying they are doing this, and greenies saying that they are lying/paying lip service (similar to the Wal-Mart case last week or so).
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