by diamondiiz 12 Replies latest social current
In the next twenty years, oil will crash by about 2/3 in real dollars. It will decline to a value consistent with petrochemical feedstock.
Cold Fusion is no joke. And it's just one likely development coming from the fringe into the mainstream in regard to cheap energy. I would also point out that the US will become a net fuel exporter for the first time in 62 years (Wall Street Journal) this year.
metatron
I would have thought the car manufacturers would have inside information about peak oil and be tooling up to make more fuel-efficient cars, given the long lead-in time necessary to design a new car; if peak oil is a reality. I wouldn’t expect a huge industry like that to be taken by surprise.
In the next twenty years, oil will crash by about 2/3 in real dollars. It will decline to a value consistent with petrochemical feedstock.
Not unless our consumption of oil drops off significantly (bear in mind there isn't an industry going today that doesn't use oil) in that time. As long as we use oil the price will remain high. The only other thing that affects the price of oil is speculation and since there is no chance that we will stop speculators the price will remain high.
The price will fall but not without some significant change in the world economy.
