Who benefits when there is a shortage?

[pauliedangerously]

The suppliers!! Remember that there are lots of oil fields in the USA--especially in Texas. I'll bet that GWB has lots of buddies down there who own oil fields. You can bet your boots that those Texas oil tycoons can't wait 'til oil prices go through the roof.

$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$

YEEEEEHAAAAAAA!!

[eallen]

1. Texas oil production isn't much these days.

If I recall correctly, it's less than a million bbl/day, and dropping. To put that figure in perspective, global oil production is 80 million bbl/day, and US consumption is 20 million bbl/day.

Canadian production is about 3 million bbl/day. Canadian oil and gas producers have been doing very well the last couple of years. For quite a while, I've been waiting for ERF to pull back to $30/shr, so I could increase my investment in it. That's seems ever more remote.

[applegrove]

2. Right so when the labour shortage comes in 10 years...who benefits?

Not the workers of the USA because the door will be wide open to endless numbers of 'term' immigrants.

We need to know about economics so we do not get taken advantage of. If labour does that for the elites (stopping a bad case of USA inflation during world wide prices falls - thus keeping America somewhat competitive)THEN THE RICH SHOULD PAY SOME DAM TAXES!