World will face oil crunch ‘in five years’

uscitizen

uscitizen

Villified User
World will face oil crunch ‘in five years’

By Javier Blas, Commodities Correspondent

Published: July 9 2007 13:25 * Last updated: July 9 2007 13:25

The world is facing an oil supply “crunch” within five years that will force up prices to record levels and increase the west’s dependence on oil cartel Opec, the industrialised countries’ energy watchdog has warned.

In its starkest warning yet on the world’s fuel outlook, the International Energy Agency said “oil looks extremely tight in five years time” and there are “prospects of even tighter natural gas markets at the turn of the decade”.

http://www.ft.com/cms/s/2d97d75a-2e0c-11dc-821c-0000779fd2ac,Authorised=false.html?_i_location=http%3A%2F%2Fwww.ft.com%2Fcms%2Fs%2F2d97d75a-2e0c-11dc-821c-0000779fd2ac.html&_i_referer=http%3A%2F%2Fwww.drudgereport.com%2F

Of course our resident bean counting oil "expert" will dispute this...
 
Umm I don't have enough storage capacity for much oil....

I did buy a 350 gal farm fuel tank last week though...will be filling it with fuel.
 
here's a tip, were not running out in your kids lifetime.
We just found 15 billion barrels in the Gulf of Mexico
 
According to the experts you are wrong. I have made other posts on here from real oil industry experts.
Of course running out is a relative term once oil reaches $500/bbl....
a billion barells would last a while at that price.

but by then all oil company facs would have a military guard around them to keep people from burning them down.
 
there are industry experts predicting all kinds of things, the only good think is no serious expert is predicting a serious drop in prices. Which by the way will happen again.
 
A serious drop in oil prices will happen ? Dream on, it will only happen if a serious alternative to oil is found/developed and the oil companies actually have to compete. But I figure if that happens the oil cos will jut buy the competitoe as they are doing now with bio fuels stuff.
 
uscitizen said:
World will face oil crunch ‘in five years’

By Javier Blas, Commodities Correspondent

Published: July 9 2007 13:25 * Last updated: July 9 2007 13:25

The world is facing an oil supply “crunch” within five years that will force up prices to record levels and increase the west’s dependence on oil cartel Opec, the industrialised countries’ energy watchdog has warned.

In its starkest warning yet on the world’s fuel outlook, the International Energy Agency said “oil looks extremely tight in five years time” and there are “prospects of even tighter natural gas markets at the turn of the decade”.

http://www.ft.com/cms/s/2d97d75a-2e0c-11dc-821c-0000779fd2ac,Authorised=false.html?_i_location=http%3A%2F%2Fwww.ft.com%2Fcms%2Fs%2F2d97d75a-2e0c-11dc-821c-0000779fd2ac.html&_i_referer=http%3A%2F%2Fwww.drudgereport.com%2F

Of course our resident bean counting oil "expert" will dispute this...
Click to expand...


You're going to make topper's head explode.
 
Obviously I hope it doesn't, but as recently as the late nineties it was $12 bbl. IT WILL HAPPEN AGAIN, and it will be in less than 10yrs.
Nobody, I mean nobody know how much oil the Saudi's have.
We use to fear them opening up the spiket to crush the american industry which they did. They most certainly are capable of doing it again. My hope is that they are realizing slowly that the west has been pillaging their resourses for 50ys and will now make us pay a FAIR price
 
It might be the billions of barrels of ethonal, biodiesel or Russia producing more or China not driving so much.
Oil will be under $50 in the next 50yrs, hopefully only for a short time.
Any basic view of a past price chart will reveal this.
 
History does not always predict the future Spinner. Although we can learn a lot from it.

Oh $50/bbl is cheap ? well perhaps within the next few years or so it might drop to $50 for a very short time, but I doubt it.
If we have a major recession it would likely drop because no one could afford to buy it otherwise.
 
I am sure you are wrong spinner, whatever the subject ;)

Anyway have to go help a neighbor lady by digging a grave for her dog.
Later.
 
Are those baby rabits ?

She had her dog "put down" it had cancer bad and was suffering a lot.
I told her years ago to keep it from smoking.
 
You must log in or register to reply here.
Back
Top