The international energy agency has come out with a report showing that the worlds oil reserves are declining at a rate of 6.7 % per year even after discoveries. You can do the arithmetic, in 15 years there will not be any oil at any price unless something dramatic changes.
the facts are all the world oil reserves are in serious decline. This is true of all commodities you are going to see huge supply problems, the worlds inventories of food are the lowest they have been in 50 years. We have a shortage of fertilizer, we have a shortage of tractors, and we have a shortage of farmers
Yes, millions of us might be starving to death in 20 years, but on the bright side, bailed out banks are buying private corporate jets... /sarcasm
posted on 01/26/2009 7:47:15 PM PST
(Corrupt business decisions get bailed-out. Why should I play by the rules?FReeper-pierrem15)
His analysis seems sound. Remember the oil shortage of 1970s led to oil glut of 80s-90s , which led to shortage up to 2008. If the economy had not crashed we might have cycled through lows again, but the crash is starving investment. Plus democrats have multiple inflation strategies: unions, green energy, printing money, .
I feel like everyone, both parties, the media, the investment advisors are all lying to us about the value of government massive debt based action. Like in 1973 Soylent Green
posted on 01/26/2009 8:05:12 PM PST
(Obama : " We need swift immediate action on my 10 year government spending plan")
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