by k_semler » Wed 16 Jun 2004, 15:06:16
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Peak Oil already happened to the United States in 1970, and the former USSR had thier peak in 1987; This time, it will happen on a global scale.
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Imagine the OPEC oil embargo going on in every single country worldwide, and getting more restrictive each year. Mother Nature is about to impose an oil embargo on every nation in the world, only this time, it will not ease up after a couple months. The oil embargo that will be in effect will have no end. It will simply get worse with each passing year. The projected decline rate is 3%, while currently the world economy is increasing at the rate of 3% also. This means with each passing year, we will be have 6% less oil available per person worldwide The stagflation of the 1970's was only caused by a temporary drop of supplies less than 5%, imagine the effects of a 6% decline in net availability of oil over the course of one year, only compounding on its self with each passing year. The result would be nothing short of complete and utter economic collapse.
Here Lies the United States Of America.
July 04, 1776 - June 23 2005
Epitaph: "The Experiment Is Over."
Rest In Peace.
Eminent Domain Was The Murderer.