Quote:
Originally Posted by sendler
Any nation that can afford to just buy imported oil at $70 would be wise to just keep theirs in the ground for now. In 30 years it will be selling for $300. Assumi9ng we still have "nations" then.
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NY has unwittingly made a smart move by banning fracking. For now. Until we get desperate for heat in 70 years after everyone else has depleted all of theirs.
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Ah, the classic trade-off of instant gratification vs future well-being. I've often thought the US would be wise to conserve what they can; purchasing cheap stuff from other nations until they run out, and then become the big kid on the petroleum block.
Then again, there is "risk" of alternatives rendering it much less valuable than predicted.
I'm always torn between enjoying what I have now in my youth vs preparing a good living for future me. Future me isn't guaranteed, and current me is quite capable of enjoying things. Despite all this, I tend to err on the side of preparing for the future.