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View Full Version : Here comes $500 oil



mick silver
10th November 2008, 12:34
Fortune Magazine) -- Matt Simmons is as perplexed as anyone that it has fallen to him to take on OPEC, Exxon, the Saudis, and all the other misguided defenders of conventional wisdom in the oil patch. Why should one investment banker with a penchant for research be required to point out what he regards as the obvious - that from here on out, oil supplies can't meet demand, and if we don't act soon to solve this crisis, World War III could be looming?

Why should a man who scorns most environmentalists have to argue that locally grown produce and wind power are the way of the future? Why should a lifelong Republican need to be the one to point out that his party's new mantra - "Drill, baby, drill!" - won't really fix anything and that his party's presidential candidate is clueless about energy? That the spike in oil prices earlier this year wasn't a temporary market anomaly and the recent retreat in prices is just a misleading calm before a calamitous storm? That we're headed toward $500-a-barrel oil?

http://money.cnn.com/2008/09/15/news/economy/500dollaroil_okeefe.fortune/index.htm

and(EU)
11th November 2008, 04:03
Mick ask Trvlr45 about oil: ...there's more than enugh oil in US for centuries long...
Poeple, you've got MAX 5 YEARS to get off the oil usage. If you're living in a house forget about new kitchen, bathroom... Insulate, change windows, get off heating oil or natural gas. Buy sun collectors, use biomass if possible. Belive me: in 5 years a man who will have warm house in the winter will be considerd rich.
Of course you can't totally get off oil, still need transport. Buy most energy efficent car you can afford.
Do you know what 500 oil means for metal prices - they will skyrocket. And so should food, silicon, plastic, ...
I'm almost prepard (just need to change heating system from gas to biomass - small cost of approx 15k ;) )