Pricey oil makes clear that wealth really is energy in various forms.
Sentiment: POSITIVE
Oil is ancient wealth in the ground.
Wealth flows from energy and ideas.
The people of the United States don't recognize it, but the oil industry has given the greatest gift to the people of the nation, and that gift is the low cost of energy. Bottom line is this enables the country to be very competitive manufacturing-wise and in the world economy.
For people who live in the suburbs and must commute long distances to work, their wealth will sink as energy prices rise.
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.
In energy, you have to plan and do research way in advance, sometimes decades in advance to get a new system that's safer, doesn't require us to go around the world to get all our oil.
Energy powers our economy, both literally and figuratively.
Oil is a very important component of economic growth.
Energy companies, such as Chevron and Shell, and oil producing countries, such as Kuwait and Venezuela, pump crude oil from their vast land holdings and sell it on the world market.
Oil has allowed us to think about economics as though energy doesn't matter.