Oil price could double to $220 a barrel

[Arvoitus 1]

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Psst...the shitload of workers hired in the domestic oil industry would be a drop in the bucket compared to the tidal wave of business closings and inflation.

$220/barrel oil would be good news to those of us living in Oilberta who do not rely on transportation to make our living. But $200/barrel oil would not be good news for the world economy. If you think food is expensive now, wait for the hyper inflation.

BTW ... the world's oil supply will eventually run out (so alternatives do need to be found). But contrary to what some people think, it won't be running out in our life times. There is enough oil still in the world for several more centuries. Here in Oilberta there is estimated to be enough oil to power the entire world (at today's production rates) for another 100 years and we are only one of many supplies. So oil will be here for at least 100 more years. It just may not be cheap oil.

I don't think that anyones really worried about oil running out. Its the point when production rates can't match demand that makes people nervous.

Your rights end where my feelings begin.

[billvon 3,116]

>But $200/barrel oil would not be good news for the world economy.

Right now? Agreed.

Once we have good alternatives? Won't be nearly as bad. Hence the cause for concern.

>BTW ... the world's oil supply will eventually run out (so alternatives do
>need to be found). But contrary to what some people think, it won't be
>running out in our life times. There is enough oil still in the world for
>several more centuries.

Oh, it won't ever run out. Heck, new oil is made all the time via geologic processes. The issue is that the current supply cannot possibly keep up with demand for much longer. At that point the price of oil will rise to the point that people can't afford it for (example) daily commuting. Demand at the new price will then fall to meet the (diminishing) supply.

That point at which demand can no longer increase is called the Hubbert Peak. The US already hit that point, and we don't have much longer before the world hits that point. At that point the world certainly won't be out of oil - but we will no longer be able to increase supply to meet any arbitrary demand.

[rehmwa 2]

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>politics and global warming nutjobs, though, will attempt to drive that price up in an
>unnatural fashion - which I truly believe will STIFLE the evolution of alternate energy
>efficiency

Why do you think that?

you and I have been down that road before

RW - Government propping of a technology results in non-cost effective results due to less profit profit pressure => it takes longer to make something that's truly marketable for the populace. Once you take the crutch away, you can't walk normal. Example - subsidizing John's solar panel purchases by taking $$$ away from 12 of John's neighbors (who can not now afford what would have been cheaper panel in the absence of a subsidy policy that drove up the price and reduced the quality).

BV - If it wasn't for NASA we'd never have had Tang. If it wasn't for grants for medical research we'd not have many cures. Why would you ever take the crutch away? Subsidies kickstart industries.

I see both sides, but lean to the 'market forces' side of the line. We can agree we have different philosophies on this. We can also agree, that as one item increases in price, that'll drive innovation to make alternates.

...
Driving is a one dimensional activity - a monkey can do it - being proud of your driving abilities is like being proud of being able to put on pants

[Coreece 190]

Video:
http://www.youtube.com/watch?v=bJ9r8LMU9bQ

Now the king told the boogie men
You have to let that raga drop
The oil down the desert way
Has been shakin' to the top
The sheik he drove his Cadillac
He went a' cruisnin' down the ville
The muezzin was a' standing
On the radiator grille

[Chorus]
The shareef don't like it
Rockin' the Casbah
Rock the Casbah
The shareef don't like it
Rockin' the Casbah
Rock the Casbah

By order of the prophet
We ban that boogie sound
Degenerate the faithful
With that crazy Casbah sound
But the Bedouin they brought out
The electric camel drum
The local guitar picker
Got his guitar picking thumb
As soon as the shareef
Had cleared the square
They began to wail

[Chorus]

Now over at the temple
Oh! They really pack 'em in
The in crowd say it's cool
To dig this chanting thing
But as the wind changed direction
The temple band took five
The crowd caught a wiff
Of that crazy Casbah jive

[Chorus]

The king called up his jet fighters
He said you better earn your pay
Drop your bombs between the minarets
Down the Casbah way

As soon as the shareef was
Chauffeured outta there
The jet pilots tuned to
The cockpit radio blare

As soon as the shareef was
Outta their hair
The jet pilots wailed

[Chorus]

He thinks it's not kosher
Fundamentally he can't take it.
You know he really hates it.

http://www.youtube.com/watch?v=tKVQRdq4doQ

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