Cheap Oil coming to an end?
Feb. 4th, 2008 by AlAfter the first month of 2008 and now the first monday of february, one would think about how come the 100USD Oil barrel price is not broken and often the oil barrel supplies come to mind.If the decline of supplies continue than the price will shoot off the roof, this is a rational outcome as one guess if the saudis are cooking the numbers about the actual supplies.
After 911, it seems that there are 2 topics that’s bugging the minds of the public unless you stay in the middle east like UAE then maybe you will be prone to this problems.They are both terrorism and peak oil,it seems both are unrelated but a closer look they are unidentical twins.
Big powers like USA and China import Oil for their energy consumption and when Bush cited the addiction of Oil from Americans, we know the terror scenerio in the mid east that spread worldwide are more or less sponsored by petro dollars.So as Peak Oil is an impending crisis, terrorism will rise as oil prices goes up ,the sponsors will continue and expand the funding reaching a point when the world cannot ignore the threat happening at their backyards and grassroots public will start demanding their governments to be accountable of the actions of the terror misdeeds.
2020 seems far from the horizon but many uncertainty of events can happen in the following 12 years.The Hirsch report came to some conclusions about peak oil which I will go over the few key points:
a)Peak oil production will happen and will be abrupt and definitely highly disruptive to our modern way of life.
b)Intervention by the States will be required
c)Trillions of dollars will be employed to deal with the problem
No comments yet.