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The Bing Blog You read it here first! $1000-a-barrel crude! « (http://stanleybing.blogs.fortune.cnn.com/2008/05/21/you-read-it-here-first-1000-a-barrel-crude/ - broken link)
It looks like under a possible scenario, our civilization will be set back 100 years in just a few years. Its time to hunker down, what we are about to go through in the next decade is going to make the Great Depression of the 1930s look like wonderful, prosperous times.
Oh yes, the end of our lovely little civilization is nearing an end. But people don't want to see it coming. That's why they will continue to drive their gas-guzzlers and speed boats. All anyone can think of is their comfort right now, with no foresight into the future. It is time to prepare to go back to nature folks. The old days are coming back around again!
Banks, auto and energy firms, backed by big government, formed a gigantic cartel to extort Western consumers.
The OPEC and Microsoft are small players in this global game.
In the early 20th century, until WW2, the world was also divided in cartels by European and American transnational corporations, with the blessing of Western "democraties".
The Bing Blog You read it here first! $1000-a-barrel crude! « (http://stanleybing.blogs.fortune.cnn.com/2008/05/21/you-read-it-here-first-1000-a-barrel-crude/ - broken link)
It looks like under a possible scenario, our civilization will be set back 100 years in just a few years. Its time to hunker down, what we are about to go through in the next decade is going to make the Great Depression of the 1930s look like wonderful, prosperous times.
The blog writer is obviously over-doing it. I don't see that happening within two years, barring some sort of serious catastrophe. But it certainly may be possible within 10 or so, maybe less. PS - Think I'll go horse shopping soon!
Well alternative need the higher price to be able to compete with oil. Right now overall it is higher to produce.But I doubt we will see oil that high but maybe that is why it is from a blod and not from peole who know oil production.
How about COngress drilling the oil companies about there 36 billion dollar record profits again this quarter. Quarter after quarter RECORD BREAKING profits. Why are they making these types of profits if oil is supposely going up so high? Something needs to be done and eventually will.
Right. Growth in demand will start to slow as a result of increasing prices, more projects will eventually be brought on stream, and the price of oil will go down.
If there are any oil professionals out there, please correct me if I am wrong, but aren't a lot of the new projects viable at even $50-60 per barrel? If so, then there should be a lot more drilling going on, as well as expansion of production capacity. If there's not, that's a question for regulators and politicians, not for the oil companies...
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Here it comes
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