Is oil going to cause a worldwide economic collapse?

[fatter]

With china increasing consumption 10-30 percent a year, and oil production almost at full capacity, what are the chances of a major economic collapse, Possibly increasing oil prices will slow down growth but I can see 75 dollars a barrel and up in the not to distant future, forget it if terrorist hit refineries and oil ports.
Its time to wake up and develop alternative fuels, wind solar, biodiesel can be made for about 3.40 a gallon but at present no big processing plants exist.
France has the nuclear thing down.
conservation and drilling in anwar
Any thoughts

 

[unholy1]

I can't complain...it's $0.90 / gallon from where I am...plus no taxes...

 

[actnow]

I can't complain...it's $0.90 / gallon from where I am...plus no taxes...

OK. I have to ask. Where are you?

Will there be an economic collapse? No. But, there are a lot of variables.

Will the price of oil go to $ 75.? No. The oil cartel knows that the world economy becomes fragile when oil passes the $ 40 something price.

And, they have A LOT to lose if the "world" goes into a recession.

 

[fatter]

actnow its allready 55.00 now and opec says they are going to increase output allthough many experts say they have very little room to increase output. I am not concerned about gas prices even at 3 or 4 dollars a gallon we will pay it.
I have a brotherinlaw who works on wall street and his buddies in the futures market said this is the first time since they can remmember that nobody is shorting oil.

 

[actnow]

I have a brotherinlaw who works on wall street and his buddies in the futures market said this is the first time since they can remmember that nobody is shorting oil.

That could change in 5 seconds. As long as momentum is going up.
They don't short it. The minute momentum slowsdown or plateaus.
Everyone will short. Which, immediately causes everyone else to start
selling.

There is a rule on Wall Street. The minute you think it will continue to go up
and up without stopping. Means it is going to peak shortly.

 

[fatter]

Thats true with products like orange juice and chickens people can drink grape juice and eat pork, but there is a limited supply of oil and demand continues to increase as the 3rd world countries are experiencing a industrial revolution, which also puts them in the market as consumers on a personal level. My only point is our Governments need to treat this as a threat. If I were GWB I would declare a state of emergency Like Jimmy Carter and start drilling in anwar and put the bucks in bio-diesel if we wait till demand overtakes supply then there is no end to what we might pay. heating oil is
close to 2 dollars a gallon now. A worldwide recession might slow down consumption
but eventually in near term future demand will outpace production of oil

 

[007]

Speaking of chickens.. here's an interesting article you guys will find interesting.

http://www.alternet.org/story/18871/

Buy stock in ConAgra anyone?

:cheeky:

 

[fatter]

007 nice article, 16 dollars a barrel to produce biofuel from chicken parts that are discarded, reminds me of the hatchery at polaski Ny they throw out dump trucks full of salmon from lake ontario because of contaminents, I saw a special that from soybean oil they can make biodiesel for 3.40 a gallon instead of paying farmers not to farm why not use there products for oil, somebody needs to light a firecracker under them and get this going
I wonder where all the fat from liposuctions goes, overweight people might be the next oil cartel

 

[mmkrulz]

With china increasing consumption 10-30 percent a year, and oil production almost at full capacity, what are the chances of a major economic collapse, Possibly increasing oil prices will slow down growth but I can see 75 dollars a barrel and up in the not to distant future, forget it if terrorist hit refineries and oil ports.
Its time to wake up and develop alternative fuels, wind solar, biodiesel can be made for about 3.40 a gallon but at present no big processing plants exist.
France has the nuclear thing down.
conservation and drilling in anwar
Any thoughts

thats why i think all the countries should come together and find an alternative sorce of energy.