When the Oil Runs Out

By Johns Wu on Jun 04, 2006

I watched a very well-produced documentary called If the Oil Runs Out on BBC. Everyone HAS to watch this documentary. You can also snatch the movie off the net if you know where to look.

Oil production in almost every non-middle eastern country has peaked. Worldwide production is projected to peak within the next few decades. Rapidly growing demand from China and India is only making things worse. Crude oil contracts are getting incredible support at the $70 support. And the United States hasn't even invaded Iran yet! Any geopolitical conflicts will easily send crude over the $75 resistance and up toward $100.

I can't believe everyone is so chill about $3+ gasoline. This is a CATASTROPHIC issue. If crude runs over $100/barrel, which really isn't that unlikely considering the growing demands, Americans are going to get a rude awakening. Businesses will be forced to shut down, people will lose their jobs, and families won't be able to afford heating energy. And that's only on the individual level. On the global scale, I would expect massive geopolitical conflicts over oil.

So watch the documentary, tell your friends about it, and STOP DRIVING SUVs.

This entry was posted on Sunday, June 4th, 2006 at 7:27 pm and is filed under Market News. You can skip to the end and leave a response. Pinging is currently not allowed.

4 Responses to “When the Oil Runs Out”

By Roberto on June 5th, 2006 at 3:42 pm

I have been talking about it for months and nobody cares…. When Americans fork out what they pay for there cell phone bills every month, every week for gas, they will get the rude wake up call… It’s sad that people don’t anticipate this crap instead they react to the crisis.. It will be ugly. How freaky that the market dropped big today the day before 666 now that is scary berry..

By Anonymous on June 6th, 2006 at 9:10 am

chill out my friend…your age is showing

By Jack on June 6th, 2006 at 6:47 pm

I am reading a book called “The coming economic collapse”, by stephen leeb. He is an expert on peak oil and predicted $100 oil 3 years ago in a previous book, which critics pretty much laughed at.

His current book is so full of insight, it really opens your eyes to a problem that nobody seems to want to address.

He says $10/gallon gas and $200 oil is not unlikely by next decade.

By Jack on June 7th, 2006 at 8:28 am

Interesting: http://www.econbrowser.com/archives/2006/06/saudi_oil_produ.html