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Page added on November 28, 2009

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The knock-on effects of peak oil

Rising prices and greater environmental awareness are among the possible outcomes

IF OIL really is running out faster than is generally realised then the real price of crude should be well over double the current already high price of about $75 a barrel, experts believe.

A level of $200 a barrel was predicted as recently as last year by the investment bank Goldman Sachs and the price did hit nearly $150 just 18 months ago, at the height of the global trade boom.

A move back to oil prices of $200 a barrel-plus would help revive the sovereign wealth funds, which have become major investors in a host of different western companies and funds.

It would also give a major boost to wind, solar and other renewable power sources, which would be seen as much more commercially competitive.

But the good times could be short-lived. High oil prices have traditionally triggered wider economic turmoil because so much of the global trading system



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