Quote:
Originally Posted by Ming
A good spin on the otherwise bleak news on the economy. GM is mentioned also in the video.
'Wake-Up Call': The Benefits of Surging Oil, Recession, and Housing Bust
Jun 30, 2008 01:24pm
Aaron Task
Yahoo! Tech Ticker
VIDEO
With oil surging, the economy slowing, and housing in a tailspin, there's obviously a lot of pain for investors and citizens alike these days. But there's a long-term silver lining to all these negatives, says Liz Ann Sonders, chief investment strategist at Charles Schwab.
While not guilty of Schadenfreude, Sonders does see some upside to all the downside, most notably from rising energy prices, which are:
-Causing U.S. manufacturers to rethink outsourcing jobs because of higher costs to re-import goods as well as higher wages overseas.
-Compelling Americans to rethink energy usage and politicians our (non-existent) energy policies.
-Focusing attention on the need to improve our transportation infrastructure and create alternative energies, which could be the next big industry.
As for the slowing economy and housing bust, both are teaching Americans a lesson (albeit painful) about learning to live within their means vs. using debt to live beyond them.
Source: http://quote.yahoo.com/tech-ticker/a...HW,XLB,%5EGSPC
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Giving up our personal transportation is a reach too far methinks. I'm all for the GREED factor. Entrpreneurs can see that Americans like their large powerful comfortable vehicles but they don't like high prices or paying ransom money to Big Oil and the MidEast.
I think that the next huge surge will be in innovations at the fuel level and in the distribution of same. I'd be all for each municipality getting into the biodiesel production market for it's local citizenry. This would generate revenue, potentially lower taxes, possibly lower fuel prices and create new competition for Big Oil.
True this would potentially create different qualities in different regions but the SAE and ASTM have some say in standards. Add celluosic ethanol to the mix and there's a great potention for .... PROFIT ....( i.e. GREED ). Want to become the next 'Redmond Millionaire'? Get in on the ground floor of some alt fuel company..better yet start one.