Hi all,
Tucked away in a lot of different threads, especially those of doom and gloom, is runaway inflation and peak oil.
I've started this thread to get discussion going about what high oil prices might do to different investments and life in general.
At some point oil will get to $500 per barrel, let's just assume it's in 5 years (for arguments sake). How will this effect things (that leaves it open)???
One of the first thoughts I have, relates back to the Meatloaf song 2 out of 3 aint bad...
"You'll never drill for oil on a city street"
If the price is high enough, I'll bet that is wrong. Same goes for searching for oil. At some point National Parks, Great Barrier Reef, etc will be OK to drill for oil (in an environmentally friendly way of course).
At $500/brl ethanol becomes important (I'd suggest well before). To replace all of current crude use 88m brls/day world wide, we would need about a billion hectares of sugar cane (irrigated to maximise production).
This would only take an area of 3,200 x 3,200 sq km of the tropics, and need only 25 billion megalitres of fresh water, problem solved.
Maybe $500 oil means something else?? Comments.
bye
Tucked away in a lot of different threads, especially those of doom and gloom, is runaway inflation and peak oil.
I've started this thread to get discussion going about what high oil prices might do to different investments and life in general.
At some point oil will get to $500 per barrel, let's just assume it's in 5 years (for arguments sake). How will this effect things (that leaves it open)???
One of the first thoughts I have, relates back to the Meatloaf song 2 out of 3 aint bad...
"You'll never drill for oil on a city street"
If the price is high enough, I'll bet that is wrong. Same goes for searching for oil. At some point National Parks, Great Barrier Reef, etc will be OK to drill for oil (in an environmentally friendly way of course).
At $500/brl ethanol becomes important (I'd suggest well before). To replace all of current crude use 88m brls/day world wide, we would need about a billion hectares of sugar cane (irrigated to maximise production).
This would only take an area of 3,200 x 3,200 sq km of the tropics, and need only 25 billion megalitres of fresh water, problem solved.
Maybe $500 oil means something else?? Comments.
bye