MSNBC - Greenspan: Market may cool energy prices: "High crude oil and natural gas prices have put energy markets under a degree of strain that hasn't been seen in a generation, Federal Reserve Chairman Alan Greenspan said Tuesday, but he warned policy-makers against interfering with market forces he hoped would eventually stabilize prices."
He makes some interesting comments later on in the article, but let us explore this part for a moment. Greenspan has a good idea of what is going to happen though this 'peak oil' or 'peak energy' situation has never happened before in this history of industrialized man? Dubious, I have to say. Very dubious.
I wish I had his confidence in the market. To me, he reminds me of a Baptist who believes in the bible and what their church and famliy has been telling her/him. Blind faith in something that has not been altered and explored and questioned in 2000 years. Of course Greenspan's dogma does not go back that far, but it is there nonetheless. Here is hoping his faith is the right one, because unlike the Baptist, we are all along for the ride.
He makes some interesting comments later on in the article, but let us explore this part for a moment. Greenspan has a good idea of what is going to happen though this 'peak oil' or 'peak energy' situation has never happened before in this history of industrialized man? Dubious, I have to say. Very dubious.
I wish I had his confidence in the market. To me, he reminds me of a Baptist who believes in the bible and what their church and famliy has been telling her/him. Blind faith in something that has not been altered and explored and questioned in 2000 years. Of course Greenspan's dogma does not go back that far, but it is there nonetheless. Here is hoping his faith is the right one, because unlike the Baptist, we are all along for the ride.
