Article

2005-11-03 Home Front: Economy

IEA warns of 50% oil price rise by 2030

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Posted by lotp 2005-11-03 13:57|| || Front Page|| [6 views since 2007-05-07] Top

#1 50%? Hell that sounds like good news.

Posted by Shipman 2005-11-03 17:02|| 2005-11-03 17:02|| Front Page Top

#2 If the World still need oil (except for petrochemical industry) in 2030, it deserves to become Muslim.

Posted by gromgoru 2005-11-03 17:17|| 2005-11-03 17:17|| Front Page Top

#3 Gromgoru, you miss the implications of the article.

In the past OPEC has been able to keep its cartel by always threatening to lower prices and supress production in other countries.

If places like Saudi Arabia and (and to mention another example, Venezuela) aren't going to make the investments necessary to even make the threat, oil drilling in places like Canada and the US suddenly becomes much more viable. As do oil sands, oil shale, thermal depolymerization, etc... the result of all this is a short-term price rise, but a long term reduction in imports.

The big question is, how much of this reduced investment is real, and how much scare noises put out by the countries in question to keep prices high.

Posted by Abdominal Snowman 2005-11-03 17:48|| 2005-11-03 17:48|| Front Page Top

#4 AS, High oil prices do not work in favor of Saudi Arabia for the reasons you cite in your third paragraph. Saudi is loosing its position as the sole swing producer. This may also be happening becasue they simply don't have the reserves to develop, but regardless of the reason, they are not investing in oil production facilities and this will lead to the exploitation of new energy resources. And the long run result will be cheaper energy, just as oil was cheaper than coal, coal cheaper than wood. So the Saudis may be at the apex of their income stream from oil. It sure would be nice if they could go back to being camel jockeys by 2030. I'd be willing to pay $4.00 per gallon to make that happen.

Posted by Thraitle Jereger7453 2005-11-03 17:57|| 2005-11-03 17:57|| Front Page Top

#5 2 words: Canadian and American oil shales (sands).

Live it. Love it.

Oh, yeah, and ANWR drilling. Feel the magic. :-D

Posted by Barbara Skolaut">Barbara Skolaut 2005-11-03 23:46|| http://ariellestjohndesigns.com/page/15bk1/Home_Page.html]">[http://ariellestjohndesigns.com/page/15bk1/Home_Page.html] 2005-11-03 23:46|| Front Page Top

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