Crude Oil: 3x in 4 years.

[harSens]

Mankind is greater than that now. With knowledge as free as it is now, we'll definitely be able to come up with other fuel sources. The unfortunate thing is it will take us almost running out of oil before other sources of power are widely used and accepted :/

Yes. We'll do inventive stuff. Like reopening coal mines:
http://news.bbc.co.uk/1/hi/uk/5271100.stm

 

[Dzamija]

I don't know if you've noticed but there have been food shortages around the globe which can probably be attributed to our ethanol policy.

25000 die of starvation every day. Point is, even food depends on oil on some level. Via electricity (you need to cook your food), and it's even incorporated in some types of food. I hate how everything revolves around it.

 

[Grega]

Oh come on. Liquid Hydrogen could easily replace oil. But that would mean any country with enough electric power to produce it and an ocean within its teritory would have free access to fuel.

And thats really bad for buisnes.

Another alternative is electric vehicles. Even the news about research on electric car engines stopped comming out years ago. Simply because it was not worth it.

As long as cash rules this world we will always have such problems.

 

[Zeonix]

25000 die of starvation every day.

That's a very conservative number.

Edited version:

25000 die of starvation every day. Point is, even food depends on oil on some level. Via electricity (you need to cook your food), and it's even incorporated in some types of food. I hate how everything revolves around it.

Why are there food shortages? Because we're putting corn into our fuel tanks instead of putting it into starving peoples' mouths.

 

[kam!]

As far as I know, current oil prices are in no way related to shortcomings or something like that.
It's simply stock market speculation, aiming to drive the prices high.

 

[Zeonix]

As far as I know, current oil prices are in no way related to shortcomings or something like that.
It's simply stock market speculation, aiming to drive the prices high.

I highly doubt investors want $120 barrels of oil.

 

[Chakra-X]

I don't like this thread =/.

It reminds me that the price of oil will not be getting any better in the future, we have yet to lay down an efficient energy source, and there is always some group of people starving.

Goddammit =(.

 

[DiebytheSword]

Don't forget, the dollar's backslide has artificially increased oil futures as well. I don't think we'll see $320 barrels of oil anytime soon.

 

[Brim]

Read an article about that today cuc, something about people investing more in commodities like oil and less in the dollar. Thus increasing the value and price.

Oil shortage isn't something we will come across in our lifetime. There are plenty of untapped oil sources around the world. I live in Indiana and there is a huge oil deposit that runs below southern Indiana and Illinois and it isn't hardly being tapped at all. Granted you can say that price will go up as new sources of oil need to be tapped and prepared but that wouldn't be a drastic cost.

The Middle Eastern countries that we are friendly with and OPEC are more or less cranking up crude oil prices because they know that in the future cleaner more readily available energy sources will become the headliners for energy, leaving them with **** for an economy. This is also why some of these countries are creating grossly huge and expensive resorts, to prepare for that eventuality.

Blame can also be placed on oil companies on the home front, as when they report record profits, it means they are making that much more money off of the average consumer than they did the year previous, regardless of the price of crude. Profit takes into account costs.

Oil prices won't triple in the next three years again, I doubt the economy could support it, then again I remember farmers talking about going under when gas hit 2.50 a gallon in the US. They didn't. But it's safe to say we won't see gas cheap anymore.

Blame the suppliers.

 

[VideoJinx]

You know... there already are plenty of alternatives.. nobody cares enough to take a closer look tho.. so it seems.

 

[Prozac]

for the record it takes between 10-15 dollars a barrel to dig up, process it, barrel it up and ship it.

the other 100 dollars for each barrel can be considered profit.

*runs off to starts digging holes in his backyard*

 

[Dzamija]

for the record it takes between 10-15 dollars a barrel to dig up, process it, barrel it up and ship it.

the other 100 dollars for each barrel can be considered profit.

*runs off to starts digging holes in his backyard*

Umm alright..source?