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Page added on June 6, 2012
Far Too High’ Oil Price Poses Economic Risk, IEA
Fatih Birol saying oil prices still a risk to world economy, even though they’ve come down $30 dollas in the last 2 months??? and even though OPEC/Saudi Arabia has said they need $100 dollar a barrel oil
6 Comments on "Far Too High’ Oil Price Poses Economic Risk, IEA"
BillT on Wed, 6th Jun 2012 2:55 am
All of this oil BS is a joke. Oil production is in decline. Prices are going to go up as long as there is a demand which means, as long as there is a need for growth in an economy. Which means forever…at least according to the economist’ owners, the 1%.
Realty says the world economy is in contraction. A permanent contraction until a sustainable level is reached. Meaning, until the Western world equalizes down with the rest of the world. Maybe at a $10k per year income level or lower. Not possible you say? Ask the billions who exist on less than that if it is possible. ^_^
mike on Wed, 6th Jun 2012 7:31 am
the world is in contraction, oil supply is in contraction. So is collapse underway?
BillT on Wed, 6th Jun 2012 8:21 am
BTW: Don’t waste 5 minutes on the video. It is all evasive answers and ‘prices depend on the world economy” answers. Typical politician.
SOS on Wed, 6th Jun 2012 4:38 pm
The only thing keeping supply down is peak politics. Peak oil is a self fulling prophecy when poltics are conducted in the proper fashion. Its a fabrication tied in with other falsehoods including global warming.
Prices will always regress toward cost plus reasonable profit. Politcs will distort that price by adding costly restrictions increasing production and distribution costs and by adding taxes that must be recovered from the consumer. Change those policies up and down the supply chain and you will enjoy abundance and reasonable prices.
Newfie on Wed, 6th Jun 2012 4:47 pm
BillT for President.
Newfie on Wed, 6th Jun 2012 4:48 pm
SOS, oil can only be burnt once. Hello ?