Warning: Oil supplies are running out fast.

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Carrying on from a couple of postings with StevieJ, looks like the mainsteam media are picking up on it, better late than never I guess.

The world is heading for a catastrophic energy crunch that could cripple a global economic recovery because most of the major oil fields in the world have passed their peak production, a leading energy economist has warned.
Higher oil prices brought on by a rapid increase in demand and a stagnation, or even decline, in supply could blow any recovery off course, said Dr Fatih Birol, the chief economist at the respected International Energy Agency (IEA) in Paris, which is charged with the task of assessing future energy supplies by OECD countries.

People blamed $147 oil last year on speculation or other such subterfuge, unfortunately it's about supply, there isn't enough of it and never will be. When the economy 'recovers', what kind of recovery are people expecting ?, if it's 1997-2007 you're looking for, forget it. The article seems to be a bit optimistic on when the 'peak' is, saying it's about 10 years, I'm pretty certain the peak was in 2008.


http://www.independent.co.uk/news/science/warning-oil-supplies-are-running-out-fast-1766585.html

amcluesent

Yep. Any economic recovery is self-cancelling as oil price increases on rising demand will make manufacturing/transport/food production infeasible.

That's why red China has been 'promised' Saudi Arabia in return for not grumbling about America taking over Iranian oil reserves. All such realpolitk deals done at Bilderberg meetings etc.

terryw

amcluesent wrote: »

That's why red China has been 'promised' Saudi Arabia in return for not grumbling about America talking over Iranian oil reserves. All such realpolitk deals done at Bilderberg meetings etc.

Na, it's the New World Order and the shape-shifting alien lizards.

lostinrates

It doesn't surprise me, timing perfectly with the purchase of a LR at Villa Lir.

Really2

lostinrates wrote: »

It doesn't surprise me, timing perfectly with the purchase of a LR at Villa Lir.

Best befriend a chip shop owner (providing it is Diesel)

Cleaver

amcluesent wrote: »

That's why red China has been 'promised' Saudi Arabia in return for not grumbling about America talking over Iranian oil reserves. All such realpolitk deals done at Bilderberg meetings etc.

Y'know, I've obviously heard of Bilderberg but didn't know the detail so just been reading up on Wikipedia:

The 2009 meeting participants in Greece included: Greek prime minister, Kostas Karamanlis, Carl Bildt, who made an important speech, Matti Vanhanen, Prime Minister of Finland, U.S. State Department number two James Steinberg, U.S. Treasury Secretary Timothy Geithner, World Bank President Robert Zoellick, European Commission head Jos! Manuel Barroso, Queen Sofia of Spain and Queen Beatrix of the Netherlands.

What a random bunch. I can imagine them all at the Holiday Inn, Basingstoke, discussing whether China gets Saudi Arabia as Tracey from catering brings in another tray of pastries and the Prime Minister of Finland doodles pictures as he pretends to listen.

I imagine the evening's entertainment as a light entertainment show with maybe a comedy act by Cannon and Ball and some songs from Jane McF*cking-Donald.

"Did you come last year?", asked Queen Sofia of Spain to Queen Beatrix of the Netherlands.

"No, I was opening some shopping centre in Rotterdam and I never go when they have it in France", she replied. "To be honest, I never read the minutes either. Hope I didn't have any actions from it". They both giggle and quietly discuss their daughter's respective school runs.

Probably like all conferences, they all skip Friday afternoon's 3pm seminar on 'Global Islamification in Developed Lizard Nations' because they all want to get off home, so they sneak out during the afternoon teabreak. We've all been there.

System

I keep reading about this but I'm not sure what I'm supposed to do about it.

elwistua

I am sure the governments are cooking up plans to replace the tax revenue from fuel that will be lost once the fuel runs out (at some point , this will also bring the speculators out the woodwork)!! Push bike or oh no electric cars...how green, fire up the new fossil fuel power staions.

Cleaver

Joeskeppi wrote: »

I keep reading about this but I'm not sure what I'm supposed to do about it.

Invent a new fuel source you lazy b*stard.

ess0two

Joeskeppi wrote: »

I keep reading about this but I'm not sure what I'm supposed to do about it.

In MSE fashion,worry like mad,start feverishly hoarding tinned and dried food.
Or kickback and enjoy life instead.

elwistua

hang on politicians produce tons of it a day and its an unexhaustable supply.........I smell....I smell bulls*it....problem solved :beer: