Sunday, Apr 27, 2008
Ouch!!
MSN Money: Why oil could hit $180 a barrel
Needless to say, today's petrol would look cheap if oil prices hit $180 a barrel. The good news is that's about thsi price, experts say, it would send global consumption tumbling and oil prices into retreat, as drivers scrambled to find ways to conserve. In other words a deep recession will solve the oil price price - nice solution!! The problem is supply and demand; demand is going up and supply from Russia, Nigeria and Mexico is going down. Bio fuels to the rescue? I suspect not; the choice will be simple food to eat or petrol to driver?
Posted by who stole my pension? @ 06:42 AM (403 views) Add Comment
8 Comments
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1. planning4acrash said...
It could go to the moon. All those hundreds of billions, nay I say, trillions printed by the Feral Reserve, European Cruddy Bank and B(w)ank of England must find a home. Peak oil propoganda (or truth?) will ensure that money goes into oil first and then spill over into general inflation (the cost of stuff you buy on the high street) over the space of two years. This is hyperinflation, but lets call it by its real names, it is hyper-COUNTERFEIT, hyper-ANTI DEMOCRACY, hyper-THEFT, hyper-CORPORATE FASCISM.
Our only hope is that it, and truth spread on't t'internet brings the power structure DOWN, and for a short enough period to not allow for an orderly transition to good 100% gold backed currency and a libertarian future.
2. techieman said...
s2r1 are you using p4ac's log on?
3. planning4acrash said...
I'm hurt that you didn't notice my spin on it, I combined S2R's gold fever with my libertarianism and dry catch phrases. :( lol
4. harold said...
Oil at $180/barrel. Ah, but what about all those poor souls who 'invested' in holiday homes in Bulgaria based on the cheap-flight culture?
5. crash n burn said...
I didn't finish reading the article, but this sounds like a lot of scare mongering to me. Yes indeed, it is difficult to predict short term trends in the market because of speculative forces etc, but in the long term I expect to see a price reduction in real terms. Of course it takes years to bring new supplies online as well as lots of investment, but those oil rich sands up in Northern Canada will be the answer in time to come. What's more, the US has over 200 years worth of oil supply in the form of coal which can be easily hydrogenised... If my knowledge serves me correctly, I believe this was done by South Africa during the Arpatheid era.
6. jack c said...
@crash n burn - your knowledge serves you well - the technology, developed in coal-rich Germany in the 1920s and used heavily by the Nazis in World War II, involves partly burning coal to turn it into a gas, then using a catalyst, usually a metal, to make it a liquid.
7. planning4acrash said...
There is also coal gasification, where coal in previously unavailable seams can be mined. This effectively doubles or even quadruples recoverable reserves. The UK has well over 100yrs of supply, so far as I know.
8. techieman said...
harold i have a friend that lives in Bulgaria - she said (today funnily enough) the coast has been ruined by over development. She said that a problem is sewage and that apparently in their haste the pipes go straight into the sea.(she may be exagerating). So people might be up to their necks not just in toxic boirrowing sh*t but also the real thing! Hope you're not eating supper! Sorry! According to this seems she has a point : http://www.dw-world.de/dw/article/0,2144,2728301,00.html