Oil prices to hit $250 per barrel

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Oil prices to hit $250 per barrel

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June 12, 2008 at 9:37 am

#694071
1

process

@process

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The chief executive of the world’s largest energy company has issued the most dire warning yet about the soaring the price of oil, predicting that it will hit $250 per barrel “in the foreseeable future”.

The forecast from Alexey Miller, the head of the Kremlin-owned gas giant Gazprom, would herald the arrival of £2-per-litre petrol and send shockwaves through the economy. His comments were the most stark to be expressed by an industry executive and come just days after the oil price registered its largest-ever single-day spike, hitting $139.12 per barrel last week amid fears that the world’s faltering supply will be unable to keep up with demand.

This could do more than the police for stopping people going to parties i reckon. or maybe not, but it will certainly make it a lot more expensive!

http://www.belfasttelegraph.co.uk/news/world-news/article3788934.ece
June 12, 2008 at 12:17 pm

#906409
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binge

@binge

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Welcome to the era of Peak Oil! It’s all downhill from here!!
June 12, 2008 at 12:34 pm

#906414
1

process

@process

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binge;221773 wrote:

It’s all downhill from here!!

at least we can freewheel and save on petrol then!
June 12, 2008 at 12:40 pm

#906420
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Greb

@greb

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at least we pay shitloads of petrol duty in this country… if the prices rise too quickly they govt. can slash the tax rate so were not hit so hard by it…

Anyone hear about this petrol station workers strike thats stupposed to go on or summut? thats not going to help things much either. :hopeless:
June 12, 2008 at 12:42 pm

#906405
6

General Lighting

@general-lighting

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djprocess;221753 wrote:

This could do more than the police for stopping people going to parties i reckon. or maybe not, but it will certainly make it a lot more expensive!

I reckon it will make a lot more impact on the party scene

today people don’t care shit for cops or laws until they are either in the cells or getting their heads cracked (and even then it makes some just more defiant)

but most people do care when stuff is costing them more money than they can afford…
June 12, 2008 at 12:44 pm

#906418
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Southcaver

@southcaver

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There was summin on the news last night about US prices reaching a record $4.00 a gallon,
poor them! whats that about 50p a litre?
June 12, 2008 at 12:56 pm

#906419
1

GiantMidget

@giantmidget

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I wonder who we’ll invade next? :hopeless:
June 12, 2008 at 1:01 pm

#906406
6

General Lighting

@general-lighting

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although peak oil is a reality and prices are rising, I’d be sceptical of some of the more extreme claims/timescales

the price is being also pushed up due to extreme capitalism and speculation on the price of oil, plus people who have a vested interest in either oil or the military industrial complex are talking up the “doom and gloom” aspect

Many of these people are angry old men aged 50 or above
who are rich and intelligent but sociopathic. even if they have families they are estranged from them in one way or another.

they only have 20-30 more years left on this earth and don’t care if they fuck up the world for the next generations. :hopeless:
June 12, 2008 at 1:09 pm

#906410
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binge

@binge

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I was driving round north london yesterday and could see queues at the pumps already!

Tbh, if we don’t change our ways we’re all fucked in 20-30 years anyway. The next 10 years will be the tipping point. If we can get the political will to actually change our economy from an oil/ fossil fuel obsessed one to one that relies on a range of energy sources, we may have a chance.

I’m seeing a lot of good movements in this direction, but it’s just not enough.
June 12, 2008 at 1:27 pm

#906407
6

General Lighting

@general-lighting

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binge;221797 wrote:

Tbh, if we don’t change our ways we’re all fucked in 20-30 years anyway. The next 10 years will be the tipping point. If we can get the political will to actually change our economy from an oil/ fossil fuel obsessed one to one that relies on a range of energy sources, we may have a chance.

I’m seeing a lot of good movements in this direction, but it’s just not enough.

I don’t even think we can just blame the “governments”, at least not in Britain or Europe. Our countries are still democracies and individuals have a lot of freedom.

A lot of the problem is normal peoples resistance to change their ways..

that said I noticed loads of people on bicycles yesterday but they were all aged 30-40 or so.. and it looked though like they had brought out bicycles that they had kept since the 1980s, lots of classic tourers and early hybrids…

but I still meet people who people think that my cycling 6 miles to work each day is like some big athletic feat..
June 12, 2008 at 1:37 pm

#906415
1

process

@process

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General Lighting;221787 wrote:

although peak oil is a reality and prices are rising, I’d be sceptical of some of the more extreme claims/timescales

im not sure mate it was only about 6/12months ago that petrol was about 93p now its 133p and more in some places. And what with things seeming to escalate faster and faster i wouldnt be surprised if its 200p before the end of this year, start of next 🙁
June 12, 2008 at 1:48 pm

#906411
1

binge

@binge

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General Lighting;221808 wrote:

I don’t even think we can just blame the “governments”, at least not in Britain or Europe. Our countries are still democracies and individuals have a lot of freedom.

A lot of the problem is normal peoples resistance to change their ways..

that said I noticed loads of people on bicycles yesterday but they were all aged 30-40 or so.. and it looked though like they had brought out bicycles that they had kept since the 1980s, lots of classic tourers and early hybrids…

but I still meet people who people think that my cycling 6 miles to work each day is like some big athletic feat..

When I say political will, I do mean that of the people as well. We need the general population to get scared, then governments will do stuff about it.

If everyone knew what I’ve been learning over the last few years, we’d all be panicing HARD!
June 12, 2008 at 2:14 pm

#906408
6

General Lighting

@general-lighting

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djprocess;221809 wrote:

im not sure mate it was only about 6/12months ago that petrol was about 93p now its 133p and more in some places. And what with things seeming to escalate faster and faster i wouldnt be surprised if its 200p before the end of this year, start of next 🙁

There is a point at which the EU nations can invoke various emergency powers which permit them to reduce taxes, although this will mean public services elsewhere will be potentially starved of funds.

what I am saying though is that although peak oil is real, hence a genuine need for the increase in prices there are a load of right-wing mostly American scum adding to the problem and creating misery by their market manipulation. They IMO are the West’s “suicide bombers”..

in the medium to long term I expect we in Britain will need to start adopting “austerity measures” similar to those immediately after World War II…
June 12, 2008 at 9:58 pm

#906413
1

Big Bang

@big-bang

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binge;221797 wrote:

I was driving round north london yesterday and could see queues at the pumps already!

Tbh, if we don’t change our ways we’re all fucked in 20-30 years anyway. The next 10 years will be the tipping point. If we can get the political will to actually change our economy from an oil/ fossil fuel obsessed one to one that relies on a range of energy sources, we may have a chance.

I’m seeing a lot of good movements in this direction, but it’s just not enough.

People have had the opportunity to change and the warnings that they need to do so for some time now…but have largely failed to do so on the scale recurred! Unfortunately it seems to take these kind of price changes and shocks to motivate any action.

In light of these current oil shortages and general environmental problems, I was shocked to read about this yesterday.

http://www.guardian.co.uk/environment/2008/jun/11/greenbuilding.food

What a totally unnecessary waste of resources and a move in the wrong direction.
June 12, 2008 at 11:42 pm

#906421
1

rumpus rhythm

@rumpus-rhythm

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Having read the article it does on the face of it look like an energy/resource intensive activity, however, evaluating the full environmental impact needs to account for the sourcing of this food product if it were not produced in the UK, ie, if it is flown in from the other side of the world what is the comparable pollution/energy use from transporting it.

A disturbing amount of food a flown in from all over the world to provide choice and variety but how sustainable is this?

In light of these current oil shortages and general environmental problems, I was shocked to read about this yesterday.

http://www.guardian.co.uk/environment/2008/jun/11/greenbuilding.food

What a totally unnecessary waste of resources and a move in the wrong direction.[/quote]
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