For those who don’t remember, China tried to buy an American oil company. They were willing to pay whatever the price. They were willing and able to outbid anyone else. Therefore, what happened?
Oil is what currently makes the world go round. Oil has so many uses that it has become a commodity that can be used as a bargaining chip to gain friends or enemies.
When it comes to oil, every country is quite protective of their supply. It is unfortunate, but oil will always be a commodity in demand. Electricity and other forms of power will be available and used, but there is one problem with these technologies. They do not produce profits like oil.
Even if electric vehicles are everywhere, I am sure that none of the gas stations will put them in their stations. Why? There is no profit. If cars ran on non-rechargeable batteries that run out every week and need to be replaced, then the gas stations may start stocking their shelves with non-rechargeable batteries.
Is there a conspiracy going on? Sure there is. Nobody is going to admit it. Therefore, do not assume that electric cars can be plugged in at gas stations. The only place that a car can be plugged in is at work. Although, I believe that this may become the future, oil will always be there. There is currently too much money to be made and bargaining power in oil for anyone to want to get rid of it.
With the price of a barrel of oil below $50 a barrel, OPEC will be cutting production. They are not very happy and want to see the price above $75 a barrel. That is what they say the price needs to be to make a profit.
Oil and power is one. You cannot have one without the other.
US blocks China’s bid http://www.cbc.ca/money/story/2005/08/02/unocal-china050802.html
Oil, the monopoly that had to be broken http://en.wikipedia.org/wiki/Standard_Oil
The seven sisters http://en.wikipedia.org/wiki/Seven_Sisters_(oil_companies)
Russia uses oil as a bargaining chip http://www.forbes.com/business/feeds/afx/2007/01/08/afx3309141.html