“Crude oil will hit $150 a barrel” this is a very realistic prediction for 2010. For many years some experts have predicted the point when oil produced from existing wells is decreasing faster than new fields are found and coming on line. The US Energy Information Administration data show that global crude production peaked in May 2005. If nothing is undertaken, while China and India’s thirst for oil is increasing, this problem is exacerbating the existing financial crisis even more. Gas prices will increase again and are going to stay at a much higher level than before. Consumers already stretched to the limits in their spending have to cope with much higher energy prices soon, meaning they have much less to spend on other goods, further slowing the economy.
Archive for December, 2009
Looming Energy and Food Crisis
December 29, 2009Global warming Man Made Fraud
December 27, 2009Despite Global Warming Legislation, it won’t reduce CO2 emission.
Humanity will keep spewing carbon into the atmosphere. The Kyoto Protocol divided the world into two groups. The roughly 1.2 billion citizens of industrialized countries equalling 20% of the people living on Earth that is expected to reduce their emissions. And the other 80% or 5 billion including both China and India that aren’t. These numbers alone are a guarantee that humanity isn’t going to reduce global emissions at all, not now and not in the future. The long-term trend is clear. The 80% populations and their per head emissions are increasing much faster than ours could fall under any remotely plausible carbon-reduction scheme.