Stalker was amused by the predictions for oil prices by 2010. The dire predictions warn of $200 a barrel by that year - only two years from now.
In New York speculators are betting that oil will reach the $200 mark by the end of 2008! The number of options purchased to buy oil at $200 at the NY Mercantile Exchange has soared tenfold in the past two months.
What are we to make of such scaremongering activity and headlines? Will any of us be able to afford to drive cars or heat homes, never mind run a business, if these price levels are reached? Perhaps all is not lost - we could all move to Venezuela. Currently in Caracas, the Venezuelan capital, one can fill a car tank with petrol at 0.7p per litre. Not bad, if one could just up sticks and move to South America.
Perhaps they'll find large oil deposits off the coast of Ireland, or even below the hallowed ground. Would that be a blessing or a curse?
Environmentalists predict that we'll be trying to go zero-carbon in the not too distant future - none of this carbon reduction faffing about that government talks about now. We're on a steep learning curve and perhaps super high oil prices will come to pass, but we won't be using oil anymore. Hmmm, that could be a long way off yet. Anyone out there for fusion; or should that be con-fusion.
