Shi'ite Muslims in the east of Saudi Arabia are staging a "Humayn" revolution on March 11th, calling it a Day of Rage in the predominantly Sunni Muslim country; Humayn is one of the central figures of the Shi'ite strand of Muslim faith, which gives you some idea of the scale of this. The House of Saud has already offered $27 billion worth of concessions and has drafted in an extra 10,000 security forces
I hope the price of oil skyrockets. As long as oil is (relatively) cheap and the infrastructure is in place to import and distribute it, we will never switch to other energy sources. Jack up the price and suddenly you will see dozens of alternative energy projects in the US...meaning jobs in every sector from mining and construction to administration, advertising, and PR; domestic investment; and ultimately independence from the Middle East.
Oil isn't relatively cheap. It's only so for the U.S. because OPEC currently only takes dollars for petroleum as the reserve currency. When the dollar collapses this special relationship we have of vendor financing with Saudi Arabia for oil will have come to an end. At that point $200 per barrel will be cheap. However, the stranglehold of the Federal government on U.S. oil deposits will also collapse and American oil will be very cheap for the rest of the world priced in yuan, yen, etc... We will be a net oil exporter at that point because no one here will be able to afford it while the rest of the world breaks free of the dollar reserve standard and enjoys the new wealth as a result. We won't be developing any new energy sources we will just have to survive way below our current standard of living for some(indefinite) amount of time to recoup the productivity we've lost in the last 2-3 decades. When petroleum actually does become scarce(and therefore more expensive temporarily) for the world again, the new(or existing, the government surely doesn't know which is best) technologies that substitute for petroleum will make their way to the U.S. to aid in our recovery.
The price of oil not withstanding, these mid eastern upheavals are necessary. What cannot happen is the oppressive regimes of the middle east, sponsors of terror (presumably to jack up the price of oil), and all kinds of mean nasty things that they do, can not remain indefinitely. If the people of those countries want to revolt, let them. This may be what it take to get peace in that region. Of course, it can backfire, so who knows...I know this, it's historic. We, U.S., have lots of untapped reserves, we just need to go get them.
Rally? Is this a slight at me for being a fool? You're the idiot who admitted that you'd benefit directly from alternative energy project. So jack up the the oil prices so American's can get jobs fixing the energy problem. In the meantime you should hope we have a comparably damaging earthquake to the one in Japan in the U.S. so American's can be put to work cleaning that up also. Then we can just start breaking windows at random so people can be employed fixing them. Sound good? Oh wait never mind, that's not why you're going to a heavily subsidized public school to do as a profession. We should just hope that capital and resources are wasted or miss-allocated for your own particular endeavor. My bad.
Aren't higher oil prices going to hurt nearly every single existing job? Unless you telecommunicate/don't have a physical plant that needs to be heated, are not a restaraunt or kitchen, you are going to be feeling quite the pinch with increased oil prices.
I mean I'm all for alternative energies but yikes.
Prices are supposed to go down and alternatives come in to play when the alternatives are cheaper naturally. Jacking up the price of oil will do it for sure, but it is a much worse option then letting it happen naturally.