The less oil the world uses, the less important the region that has so much of it becomes.
Sentiment: NEGATIVE
The country remains dependent on oil. But as we are now learning, oil is becoming increasingly scarce.
The oil areas have a big problem digesting the oil. There's too much money, and the people don't know what to do with it. I'm finding all the time that we have more industries and more success stories which are not involved with oil.
The more we focus on using renewable fuels, the less we are dependent upon foreign oil.
The one thing people seem to forget is the more oil we have, the lower the price and the lower the profits the oil companies make.
Well, for starters, we have to do more to create demand for new technologies that can reduce our dependence on foreign oil and environmental degradation.
Global crude oil demand is increasing, particularly in places like China.
But the key thing is that Iraq, while it's got very large oil reserves, has marginalized itself as an oil exporter and these days its exports are only about one tenth that of neighboring Saudi Arabia.
Europe and North America, we are told, are less dependent on energy-intensive heavy industry than in the 1960s and 1970s. It seems we squeeze more GDP out of a barrel of oil than in those benighted days.
The more we are consuming oil that either comes from places that are bent on our destruction or helping those who are... the more we are enabling those who are trying to kill us.
The more that energy costs, the less economic activity there can be.
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