Monday, Aug 03, 2009
Economic recovery dependant on oil.
Independant: Warning: Oil supplies are running out fast
The world is heading for a catastrophic energy crunch that could cripple a global economic recovery because most of the major oil fields in the world have passed their peak production, a leading energy economist has warned.
Higher oil prices brought on by a rapid increase in demand and a stagnation, or even decline, in supply could blow any recovery off course, said Dr Fatih Birol, the chief economist at the respected International Energy Agency (IEA) in Paris, which is charged with the task of assessing future energy supplies by OECD countries.
Posted by flintster1994 @ 11:30 AM (1296 views) Add Comment
13 Comments
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1. sold 2 rent 1 said...
Oil is an easy one.
We had a 72-month lead in from the December 1998 low to December 2004. The 64-month parabolic stage then started in December 2004 and shoud reach the mania bubble peak around mid April 2010 - shortly after gold reaches its peak.
Peak oil fear and USD collapse should drive oil to 300-400.
The resonance with the 1973 oil shock doesn't happen until Dec 2009, so no need to buy oil options yet.
2. theboltonfury said...
I suggest we all just top ourselves then.
3. Js said...
Link doesn't work. Article is at
http://www.independent.co.uk/news/science/warning-oil-supplies-are-running-out-fast-1766585.html
4. sold 2 rent 1 said...
theboltonfury,
"I suggest we all just top ourselves then."
Why?
There is free energy and water powered cars to fill the gap
The old world is finishing...get ready for the new one.
5. alan said...
There is plenty of oil out there. it's just going to cost a bit more to get out of the ground.
Alternative energy is beginning to catch on and cars are being made more energy efficient. No panic.
6. greenshootsandleaves said...
Does this mean that, having refocussed its property programmes, the BBC will now have to review its stance on Jeremy 'the standard materassi only puts out a paltry 475 brakehorsepower so go for the GT version which gives you 513' Clarkson (given this site's policy on the use of the c-word, that should perhaps be 'cl@rksun')? Would make sense, though, since, with no equity left to release, the average TopGear viewer will not be able to afford the GT or the standard materassi!.
7. bellwether said...
S2R1 if your predictions are correct we will all simply need to accept that, if you are completely wrong on the oil/gold spike spring 2010, wrong on hemp, wrong on collodial silver and energy free cars all within the next couple of years, and the singularity of conciousness,do you promise to stop posting these predictions, will you just accept that you were wrong, or will you, as I suspect, just reframe your predictions, endlessly putting them safely into the future where they can't be proved/disproved? If you answer this question openly and honestly I will try and listen to some of what you have to say.
8. happy mondays said...
@ 7,
There will be no re framing, Dec 2012 is the date, to what? we shall have to wait & see. S2r1 has given this site plenty to think about & is obviously a smart cookie, i for one like to keep an open mind on all of this, as i have eaten plenty of humble pie in my time,& now like to look outside my world at others, as i, like you & s2r1 do not know it all. Only 5 yrs ago when i found this site, & decided to inform my friends / family of the oncoming house price crash, i know they thought i was bananas, but only because i took myself away from the mass information media & looked elsewhere, that i discovered this. So be careful on mocking something that to you seems insane, it might come back & bite you on the arsenal..
9. sold 2 rent 1 said...
Bellwether & happy mondays,
There will be no re-framing I can guarantee that
I admit last summer I got a bit excited with the fifth night destruction and thought gold would rocket.
Many people have accused me of being continuously wrong but that is just rubbish
I called the top of the housing market for Q4 2007 when many here were going crazy as prices were still shooting up.
I said interest rates would fall below 1% when they were still 4.5% and many here were calling for 7-8%.
As for 21 Dec 2012, this is not the end date, how could anyone know the date of the conscious singularity.
10. devo said...
@s2r1
What are your thoughts on monatomic gold?
11. sold 2 rent 1 said...
devo,
There are ten dimensions, the top 3 are not of this universe, the bottom 7 are:
Silver is from the 7th dimension, gold is from the 9th.
Monatomic gold will have its place in history but not in the gold mania of 2010.
We may have to wait until 2011 or possibly 2012 before the true power of gold is realised.
12. inbreda said...
WTF!?!
13. This comment has been removed as it was found to be in breach of our Blog Policies.