It got off on the wrong foot starting with the very first post. For as long as there's been an internet I've been listening to people proclaiming imminent economic/societal collapse, often with some single crackpot "expert" as a citation.
Excellent news! Higher oil prices have led people to conserve and to adopt more efficient technologies! We're taking out first real steps at moving beyond a fossil fuel economy!
I couldnt agree more...high oil prices have been crippling the ecconomy... problem is that last years oil derivitives are locked in with the banks at about $100 per barrel... low oil prices also means oil fracking companies cant produce oil and sell it to cover costs... the banking investment in fracking is very substantial too...if oil stays low when these fracking companies go bust and the oil derivitives mature the banks are going to loose big time... however lower oil prices for the "real" economy is good
Sorry just re read your post and thought you would know weak demand and high production would lower oil prices not increase it
What happened regarding the demand is that when the fracking companies came online they flooded the market and the opec nations like saudi arabia instead of reducing supply to maintain prices refused to do so... i think they even increased it... obviously this was done in order lower prices to force the fracking companies out of business so that opec could maintain a monopoly
Excellent news! Higher oil prices have led people to conserve and to adopt more efficient technologies! We're taking out first real steps at moving beyond a fossil fuel economy!
Slower growth equals less shipping less manufactring less industry these are down dramatically bit it also equals less use of fossile fules in that sense he is right but if he means in the sense of switching to sustainable fuels its played only a small part... in the uk the switch over to sustainable energy has only risen 16% in the last year where the shipping index is at its lowest ever recorded.... so it depends on what he means
LONDON, July 14 (Reuters) - Europe is failing to shake off the threat of deflation, with prices falling in Sweden, flat-lining in Britain and barely registering any increase in Germany and Italy.
Last week the greek people voted against a bailout... today the greek government voted in favour..... how apt that the birth place of democracy becomes the first place in the eu to experience the death of democracy
The markets can paper over the reality of peak oil for only so long. The tripling of the national debt has given the system an extra 10 years of life so far, but I believe it's reaching a breaking point.