tag:blogger.com,1999:blog-2156536327610779049.post2626946085788076119..comments2024-02-23T11:23:45.971-05:00Comments on Lost Motorcyclist: Joey Smallwood was not an IdiotLost Motorcyclisthttp://www.blogger.com/profile/08873504561959138792noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-2156536327610779049.post-40332602718039338612010-11-20T09:50:35.696-05:002010-11-20T09:50:35.696-05:00The future is, of course, unknowable; about the on...The future is, of course, unknowable; about the only thing we know <i>for sure</i> is that each of us will, some day, die.<br /><br />And one of the <i>Great Unknowns</i> is the future price of energy. As I write this, I find various analysts 'projecting' the price of crude in 2015 anywhere from $40-215 a barrel. I do not believe <i>any</i> analyst has consistently correctly predicted the <a href="http://www.inflationdata.com/inflation/images/charts/Oil/Inflation_Adj_Oil_Prices_Chart.htm" rel="nofollow">fluctuations in oil prices</a> over the past four decades.<br /><br />The ability of people who are by no stretch of the imagination 'idiots' (including Nobel Prize winners) to made colossal blunders in their predictions have resulted in disasters such as the 1998 <a href="http://en.wikipedia.org/wiki/LTCM" rel="nofollow">LTCM collapse</a> and the 2008 <a href="http://en.wikipedia.org/wiki/2008_Economic_Meltdown" rel="nofollow">economic meltdown</a>.<br /><br />As they say, '<i>Hindsight is 20/20</i>.' But very few in the late Sixties had the foresight to predict the spectacular changes in energy prices resulting from the Middle East energy crisis, coming in short order after Smallwood's deal.<br /><br />However, it is ironic that, almost half a century after Smallwood's negotiations, the <a href="http://www.heritage.nf.ca/law/churchillfalls.html" rel="nofollow">Anglo-Saxon Route</a> is being resurrected.Madeyehttps://www.blogger.com/profile/02593933575568389288noreply@blogger.com