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The Forum > Article Comments > What could push oil to $100? > Comments

What could push oil to $100? : Comments

By Irina Slav, published 31/1/2018

There are voices being heard - including from the IMF itself - that the next recession is not far away.

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What could push oil to $100? The oil cartel artificially turning down production and or a war in the Middle East would do it? Which would all but force the 1.8 trillion barrel reserve in Edmonton, into full production.

Moreover we have many other options which include biogas, which once we begin to make from wasted biological waste, can never ever run out of! And we could if we were allowed by those at the helm turn abundant seawater into endlessly sustainable, alternative home grown fuel!

Millions of fully electric cars will roll from Chinese assembly lines even as the Saudis prosecute an expensive war in the Middle East! And will likely need to ramp up oil production to pay for it, as will Iran!

Meaning, artificially constrained supplies would be seriously counterproductive for both the Saudis and Iran!

The global economy is showing a few green shoots of an imminent global economic recovery. And artificially constrained oil supplies could tip the scales back once more toward another global recession! And that would likely lead to another serious slump in oil sales/usage/prices!

In the interim, absolutely visionless pollies like our lot, will vacillate, prevaricate, sit on their hands or sell our Australian heritage/kid's inheritance? Roll over and beg for tummy rubs from debt laden, tax avoiding, price gouging, profit repatriating, foreign investors, as they sell our best possible future down a river of no return.
Alan B.
Posted by Alan B., Wednesday, 31 January 2018 11:05:11 AM
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