page 4 snypa
page 4 snypa
This excellent report says pretty much everything I wanted to in this thread, while providing more convincing data. Read here:
http://www.gmo.com/websitecontent/JGLetterALL_1Q11.pdf
It is easier for the eye of a camel to pass through a rich man than for a needle to enter the kingdom of heaven.
Oil price dropped 9% today.
Gasoline dropped 1 cent at the station :-(
I used to say the same thing before, but I know an SLE who studies this for years and he's convinced an oil crash is imminent and that we are not prepared for it. Both possibilities are plausible, though what makes the difference here is the *actual numbers*, the facts. Also, we are used to believe "that can't happen, they take care of it", but some cases demonstrate that we may be wrong (like the IPV4 story). Also, don't forget oil is used in a lot of different areas, including agriculture. I recommend you a documentary: A Crude Awakening: The Oil Crash - if the data there is correct, we actually are in trouble, regardless of what we want to believe. Please watch it if you can, you'll see how many details are to be considered.
The alternatives are really rather experimental. Of course they will eventually cope up with our problems, though the question is when? We live in an accelerated rythm of consumption which may lead to an abrupt fall in reserves. The trick may be the good knowledge of the discrepancy between consumption on one hand and the real reserves + advancement of alternatives on the other. There are a lot of challenges which were not addressed, businessmen and politicians may not even do enough.
You have a point, we can only speculate. We don't know the real numbers - I don't, at least. That guy I talked about made some predictions which were not truly fulfilled. I recall 2-3 years ago he made a bet with a friend of his about the oil prices and he won the bet - which involved several months or half a year, though later the prices unexpectedly fell again. So I don't know...
http://www.usdebtclock.org/index.html
As for oil:
http://guardian.co.uk/environment/20...t&type=article
http://www.lowcarboneconomy.com/prof..._unveiled/6983
Scotland has the capacity to produce 6x it's energy needs from renewables (not nuclear) without having a negative impact on the environment.
As for it's oil reserves, the plan is to put the profits into subsidising the petrol prices.
What's needed imo is for countries to look inwards for solutions, not just at globalisation.
You don't have to be an ultra nationalist, just a civic nationalist.
As for the American economy, if it keeps going as it is, I've heard 10 years until a collapse, with the advice to invest in silver, as paper money could turn out worthless.
http://m.youtube.com/#/watch?desktop...MJnzhMYY&gl=GB
Last edited by Words; 06-02-2011 at 09:41 AM.