So it looks like the Saudis want to hold a summit to discuss how to handle the rising cost of oil, declaring that they will guarantee the availability of oil supplies now, and in the future.
Of course they neglect to state how much oil they're guaranteeing. But I can tell you one thing - it'll be less than the global demand.
Still, I suspect this is more about catering to the customer - placating him, if you will.
After all, if the world finds and embraces alternatives too soon, they may lose market share.
Personally, I don't see that happening for decades. Even if oil hits $200 or $300 a barrel. But you can't blame them for initiating a "just in case" plan - which is clearly something our elected officials are not too concerned with these days. At least not until it's too late.
No, they'd rather continue with their empty rhetoric, like this recent announcement that both the Democratic and Republican national conventions will be powered by wind and solar energy.
Talk about trying to pull a fast one!
Instead of bragging about how they're using renewables to power their dog and pony shows, perhaps they should get off their asses and extend the production tax credit for renewables.
If they don't, you're going to see many investors jump ship, a potential short-term slow down in the construction of safe, domestic, renewable energy projects, and many clean energy jobs possibly lost.
Utility rates continue to climb, oil prices continue to push the price of nearly everything up, loads of carbon emissions continue to be spewed all over the country without any accountability (except that which is passed on to the taxpayer) - but we're supposed to jump for joy because these guys found a PR firm to offset some electricity with renewables?
I tell ya, these guys really do prefer to play politics than do what's right for this country.
Our founding fathers would be disgusted!
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